Sunset Monday, November 21, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • Markets started the week with a Chinese inspired, admittedly modest, risk-off. The reaction of authorities to a new wave of Covid infections raised questions on an easing in the country’s zero-Covid policy. The Read more…
Sunset Friday, November 18, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • Yesterday, Fed’s Bullard pushed back on recent ‘dovish’ market pricing as he said it is necessary for the Fed policy rate to be raised at least to at least 5.00/5.25%. ECB’s Lagarde in Read more…
Sunset Thursday, October 13, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • With no important data in the EMU, global markets held a wait-and-see approach going into the key US September inflation release. Once again UK markets were the exception to the rule. The BoE Read more…
Tuesday, 4 October 2022 Please click here to read the PDF version Markets • The US manufacturing ISM surprised to the downside yesterday, easing from 52.8 to 50.9. The lowest reading since May 2020 followed a (deeper) drop in employment and new (export) orders into contraction territory. Backlogs fell sharply Read more…
Tuesday, 27 September 2022 Please click here to read the PDF version Markets • We cannot but kick off with the UK again. Aggressive selling in UK bonds and the pound prompted a coordinated response by Treasury and the Bank of England. Markets were all but impressed. UK yields again Read more…
Friday, 23 September 2022 Please click here to read the PDF version. Markets • Wednesday’s ‘hawkish’ 75 bps Fed rate hike only reinforced markets’ belief that tightening of global financial conditions still has some way to go. Other central banks including the Norges Bank (+ 50 bps), the Swiss national Read more…
Sunset Wednesday, September 21, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets: • The presumed calm of the countdown to this evening’s Fed decision was abruptly unsettled by a speech of Russian president Vladimir Putin around the start of European dealings. Putin announced a ‘partial mobilization’ Read more…
Tuesday, 20 September 2022 Please click here to read the PDF version Markets • The new week didn’t bring any change to market trends/narrative going into multiple central banks decisions, including the FOMC announcement on Wednesday. Markets continue to prepare for (or is it rather push?) inevitable bold central bank Read more…
Monday, 19 September 2022 Please click here to read the PDF version Markets • Last week, a strong flattening/inversion move illustrated investors’ believe in a further frontloading strategy as global central banks are trying to regain control on inflation. Despite mostly hawkish ECB speak of late and the Fed keeping Read more…
Sunset Friday, September 9, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • A75 bps rate hike is not the new norm (according to ECB’s Lagarde yesterday at the ECB press conference). Also the Fed pledged to set interest rates in line with incoming economic data. Read more…