Tag Archives: Daily News

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...

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...

The death toll from the virus continues to trend lower in Europe and the US; the dollar remains under some pressure The Fed announced an expansion of its Municipal Liquidity Facility (MLF); regional Fed manufacturing surveys for April continue to roll out; other data will be reported Sweden kept rates and QE steady, as expected; Hungary is expected to stand pat too Oil prices are tumbling again Japan reported soft March jobs data; HKMA stepped up its intervention...

The virus news stream is negative today; the dollar is trying to build on its recent gains Weekly jobless claims are expected at 4.5 mln vs. 5.245 mln last week; regional Fed manufacturing surveys for April continue to roll out ECB confirmed reports that it will accept sub-investment grade debt as collateral; EU leaders will hold a video conference today Preliminary April eurozone PMI readings were awful; UK readings were even worse Japan reported weak preliminary...

The virus news stream remains mixed; oil remains at center stage with still extreme volatility. The White House and House Democrats struck a deal on a new aid package worth $484 bln Canada reports March CPI; Mexico delivered a surprise 50 bp cut to 6.0% yesterday afternoon ECB will consider accepting sub-investment grade bonds as collateral in its operations; reports suggest Italy will boost its fiscal stimulus efforts UK reported March CPI data; Turkey is expected...

The lockdown vs. opening debate continues in just about every country; the dollar is consolidating recent gains Reports suggest the White House and House Democrats are nearing a deal on another aid package worth nearly $500 bln; the extra fiscal stimulus will add to downward ratings pressure on the US Chicago Fed National Activity Index for March will be reported; late Friday, Moody’s downgraded Mexico a notch to Baa1 with negative outlook The debate about re-opening...

The virus news stream is mostly positive today; yet risk assets are starting the week under some modest pressure The dollar took a hit last week but we think it will recover; some US data releases from Good Friday are worth repeating With most of Europe closed today, the news stream from the region is very light; oil prices could not extend their gains today after OPEC+ finalized output cuts over the weekend India March CPI is expected to ease to 5.90% y/y from 6.58%...