Tuesday, 6 September 2022 Please click here to read the PDF version Markets • Energy stayed the dominant trading theme on European markets yesterday. Gas prices surged as much as 36% intraday before the panic subsided somewhat. Eventual gains for natural gas amounted to about 15%. Oil prices also rose Read more…
Tuesday, 16 August 2022 Please click here to read the PDF version Markets • Disappointing July Chinese eco data and some PBOC monetary policy easing were the main talking point at the start of the new trading week. The Chinese central bank cut its 1-yr medium term lending facility rate Read more…
Wednesday, 6 July 2022 Please click here to read the PDF version Markets • The relative calm that (temporary) returned to markets on Monday didn’t last long. A bit strange, yesterday’s huge market swings weren’t triggered by US investors returning from the 4th of July holiday. It was mainly European Read more…
Sunset Wednesday, June 22, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • Here we go again. It has been a reliable roadmap over the past few months: the inflation scare dominates in the run-up to actual price data releases and central bank meetings at which Read more…
Thursday, 9 June 2022 Please click here to read the PDF version Markets • Core bonds and stocks sold off in lockstep again yesterday as a new surge in oil prices stings. Brent crude rallied from $120.50/b to $124/b, testing the highest level since mid-March. The post-invasion top stands at Read more…
Tuesday, 31 May 2022 Please click here to read the PDF version Markets • Surprisingly high and accelerating inflation in Belgium, Spain and Germany defined an exclusively European trading session yesterday (US closed for Memorial Day). European/German yields were already headed north at the open in an attempt to shake Read more…
Friday, 13 May 2022 Please click here to read the PDF version Markets • The fall-out from yesterday’s risk-off session was most apparent on core bond yields and the euro. The former declined 3 (30y) to 7.8 (2y) bps in the US. Bunds outperformed strongly, shedding more than 14 bps Read more…
Tuesday, 26 April 2022 Please click here to read the PDF version Markets • A Chinese growth slowdown ranks as one of the biggest risks to future global growth. March data already showed the impact of lockdowns in Shanghai (still in place), with an outbreak in Beijing over the weekend Read more…
Friday, 8 April 2022 Please click here to read the PDF version Markets • Minutes of the March ECB meeting kickstarted the countdown to next week’s ECB meeting. In line with FOMC Minutes, they surprised markets in a hawkish manner. The key takeaway was some ECB members already argued in Read more…
Monday, 21 March 2022 Please click here to read the PDF version Markets • With still only mixed signals on any progress in the negotiations between Ukraine and Russia, European investors on Friday initially took some chips off the table after last week’s rally. US investors were less worried on Read more…