Sunset Tuesday, February 7, 2023 Daily Market Overview Click here to read the PDF-version of this report. Markets • This morning, the Reserve Bank of Australia’s post-meeting statement was a clear sign of the times. It’s too early to frontrun on an easy fix to (persistent) high inflation. Even Governor Lowe and Read more…
Tuesday, 7 February 2023 Please click here to read the PDF version Markets • Core bonds suffered a massive hangover on Monday. Ridiculously strong US data last Friday caused a further repricing in favour of central bank guidance, particularly in the US where money markets now discount a 5-5.25% terminal Read more…
Sunset Monday, February 6, 2023 Daily Market Overview Click here to read the PDF-version of this report. Markets • Last Friday’s stellar US payrolls (labour market even tighter than expected) and non-manufacturing ISM (US economy more resilient than feared) continue feeding into markets. Recall their dovish reaction to Fed (and ECB) meetings last Read more…
Monday, 6 February 2023 Please click here to read the PDF version Markets • Friday was all about exceptionally strong US payrolls and a sharp rebound in the services ISM. The former showed a 517k job creation in January with details strong across the board. The unemployment rate fell to Read more…
Sunset Friday, February 3, 2023 Daily Market Overview Click here to read the PDF-version of this report. Markets • First ECB governors hit the wires one day after raising policy rates by another 50 bps to 2.5% (deposit rate). ECB Vasle kept close to yesterday’s statement, committing to a 50 bps rate hike Read more…
Friday, 3 February 2023 Please click here to read the PDF version Markets • It didn’t quite turn out how we expected it to be. Especially on bond markets. Fed Chair Powell and ECB Lagarde missed out on the opportunity to talk up markets towards their envisioned monetary policy paths. Read more…
Sunset Thursday, February 2, 2023 Daily Market Overview Click here to read the PDF-version of this report. Markets • The ECB raised its key policy rates as expected by 50 bps with the deposit rate now reaching 2.5%. In its statement, the central bank says that it intends to raise rates by another Read more…
Thursday, 2 February 2023 Please click here to read the PDF version Markets • The Fed unanimously decided to raise its policy rate by 25 bps to 4.5%-4.75%, in a second consecutive downshift (+75 bps in November; +50 bps in December). In its new policy statement, they still commit to Read more…
Wednesday, 01 February 2023 Please click here to read the PDF version Markets • The build-up to a Fed decision usually brings lackluster trading. This time around, things might be different. For starters because of the January EMU CPI release. Spanish and Belgian data on Monday triggered a market reaction Read more…
Sunset Tuesday, January 31, 2023 Daily Market Overview Click here to read the PDF-version of this report. Markets • European (Bond) markets this morning hesitated which card to play and this indecisiveness continued throughout the day . Risk-off sentiment spilling over from yesterday’s WS session initially helped bonds to rebound. However, European Read more…