Tag Archives: Articles

Tensions between the US and China continue to rise; the dollar is finding some traction Fed Beige Book contained no surprises; NY Fed President Williams said the Fed is “thinking very hard” about targeting yields; weekly jobless claims are expected at 2.1 mln vs. 2.438 mln last week Germany reports May CPI; ECB is likely to ease next week; BOE continues to show its dovish colors; Poland is expected to keep rates steady at 0.5% Japan’s Cabinet Office maintained its...

Legislation was introduced that allows Beijing to directly impose a national security law on Hong Kong; US-China tensions are still rising; the dollar is bid as risk-off sentiment takes hold There are no US data reports or Fed speakers today; Canada reports March retail sales; Mexico reports mid-May CPI ECB publishes the account of its April 30 meeting; UK reported April retail sales and public sector net borrowing; parts of the UK curve remain negative China...

The virus news stream is mixed; the dollar has stabilized; US-China tensions continue to ratchet up We will get some more US economic data for May; weekly jobless claims are expected at 2.4 mln Eurozone and UK reported firm preliminary May PMI readings; BOE officials continue to take a very dovish tone South Africa is expected to cut rates 50 bp to 3.75%; Turkey is expected to cut rates 50 bp to 8.25% Japan and Australia reported preliminary May PMIs; Korea reported...

The virus news stream is mixed; the dollar has stabilized a bit FOMC minutes will be released; Canada reports April CPI and March wholesale trade sales; the news from Brazil keeps getting worse Another group of EU nations will release their own plan in a rebuttal of France and Germany; UK reported April CPI data Japan reported March core machine orders; Australia reported weak preliminary April retail sales China kept its benchmark Loan Prime Rates unchanged;...

Risk-off sentiment has intensified; as a result, the dollar is getting some more traction Fed Chair Powell pushed back against the notion of negative rates in the US; US Treasury completed its quarterly refunding Weekly jobless claims are expected at 2.5 mln vs. 3.169 mln last week; Mexico is expected to cut rates 50 bp to 5.5%There have been growing discussions about negative rates in the UK; weak UK data, rising Brexit risks, and a more dovish BOE have taken a toll...

The virus news stream is mixed; the dollar continues to consolidate; US-China tensions continue to rise US Treasury wraps up its quarterly refunding; April budget statement is a harbinger of things to come; the next round of stimulus will be contentious We got some dovish BOE comments yesterday; UK continues to play Brexit hardball; UK data was slightly better than expected but awful nonetheless Japan reported March current account data; RBNZ expanded its QE program...

Over the past two months we have witnessed historic turmoil followed by unprecedented intervention by policy makers and central banks in supporting the capital markets (and more). In many ways the 2020 COVID-19 pandemic is very different from the 2008 global financial crisis, but for some, certain old concerns still linger. In the face of short selling bans and worries about market liquidity, we discuss below how best to navigate some of the common objections and...

Measures of cross-market implied volatility have been stable for a few weeks now Weekly jobless claims are expected at 3 mln; reports suggest House Democrats are pushing ahead with a possible vote next week on another relief package Canada reports April Ivey PMI; Peru is expected to keep rates steady; Brazil COPOM delivered a dovish surprise last night The Bank of England delivered a dovish hold; The Norges Bank surprised markets with a 25 bp cut to 0%; Czech...

UK has been confirmed to have the highest death toll in Europe the dollar is getting more traction Reports suggest Congress is resisting President Trump’s call for a payroll tax cut; ADP private sector jobs data is expected to come in at -21 mln Brazil is expected to cut rates 50 bp; Fitch cut its outlook on Brazil to negative; Chile is expected to keep rates steady Sterling remains under pressure as Brexit talks sour; the EC warned that the future of the eurozone is...

Global equity markets continue to trend higher; the dollar remains under pressure The two-day FOMC meeting ends today; the first look at Q1 US GDP comes out France and Spain laid out plans to reopen; the UK will rely on a contact tracing plan to limit the viral spread Ahead of the ECB meeting Thursday, European policymakers are showing a similar willingness to act as needed Fitch cut Italy by a notch to BBB- with stable outlook; Germany reports April CPI Reports...