Tag Archives: 5.) Brown Brothers Harriman

Risk-off sentiment has picked up from reports that the US will impose new tariffs against the EU; there’s also been a messy set of headlines regarding the virus contagion outlook in the US The IMF will release updated global growth forecasts today; the dollar is benefiting from risk-off sentiment; another round of fiscal stimulus in the US is in the works Brazil announced a slew of new easing measures to improve liquidity conditions in local credit markets; Mexico...

By Dara O’Sullivan, Derrick Leonard, and Ilan Solot There were minimal changes to the status quo as the week commences. Bangladesh has announced revised trading hours on the local exchanges. No change of status in Nigeria and Kenya as they both continue to face limited liquidity. Please see trading comments below. Bangladesh: Effective June 18, the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) revised their trading hours until further notice. The...

There are some indexing events this week that could add to market volatility; the IMF will release updated global growth forecasts Wednesday The regional Fed manufacturing surveys for June will continue to roll out; Fed speaking engagements are somewhat limited this week Eurozone reports preliminary June PMI readings Tuesday; ECB releases its account of the June meeting Thursday All quiet on the Brexit front; UK reports preliminary June PMI readings Tuesday Japan...

Market sentiment reverse sharply to the positive side due to several factors; as a result, the dollar has suffered The Fed beefed up its support for the corporate bond market; all eyes are on Fed Chair Powell as he delivers his semi-annual report to the Senate today The Trump administration is reportedly preparing a large infrastructure bill; May retail sales will be the data highlight Comments from UK and EU officials have sparked optimism about Brexit talks; UK...

EM and other risk assets stabilized to end the week after Thursday’s selloff, but remain vulnerable. The risks ahead are the same as before, which include a second wave of infections as well as a longer and shallower than expected recovery in global growth. The Fed’s message of low rates as far as the eye can see was balanced by Powell’s grim outlook for unemployment. The liquidity story should remain positive for EM, with the BOE expected to increase its QE this...

Concerns about still rising infection numbers and a second wave ofCovid-19 have contributed to today’s downdraft in risk assets; for now, the weak dollar trend is hard to fight Despite delivering no change in policy, the Fed nonetheless sent an unequivocally dovish signal; stocks have not reacted well to the Fed; weekly jobless claims and May PPI will be reported Peru is expected to keep rates steady at 0.25%; Brazil inflation data supports a 75 bp cut next week The...

Today’s risk off price action appears to have been triggered by profit-taking; the dollar has gotten some traction The Fed expanded its Main Street Loan Program to include more businesses; the jobs rebound has removed a sense of urgency regarding the next round of fiscal stimulus Some minor US data will be seen today; Mexico reports May CPI Germany reported weak April trade and current account data; there were two important developments in Turkey today Japan reported...

The FOMC decision comes out this afternoon and we expect a dovish hold; this would of course be negative for the dollar Ahead of the decision, May CPI will be reported; the budget statement will be of interest; Brazil reports May IPCA inflation We are still getting mixed messages about Europe’s flagship €750 bln recovery package; French April IP fell -20.1% m/m Japan reported weak May PPI and April core machine orders; Australia reported mixed sentiment indicators;...

The dollar has stabilized a bit; Friday’s US jobs data could be a game changer The US bond market selloff continues; for now, the weak dollar trend is hard to fight The Brazilian government has found a way to make a bad situation worse by trying to control its Covid-19 statistics German IP came in a bit worse than expected at -17.9% m/m; the OPEC+ deal ended with the expected supply cut deal, lending continued support to crude prices Japan Q1 GDP revised higher on...

The dollar remains under pressure, due in large part to the Fed’s aggressive efforts to inject stimulus. We see dollar weakness persisting near-term. From a longer-term perspective, we note that the greenback remains largely rangebound and is unlikely to fall below its 2018 lows. Dollar Index, 2015-2020 - Click to enlarge RECENT DEVELOPMENTS There is a growing debate as to the root causes of recent dollar weakness. Is it the burgeoning national debt? The poor US...