Post date: 26/04/2021 15:35 The US dollar continued its recent trend lower last week, falling modestly against every G10 currency save the Australian dollar. The moves there were, however, modest and most of the action took place in emerging markets. It was hard to discern a theme, since the Brazilian real rose strongly but other…
Post date: 19/04/2021 12:13 The somewhat puzzling retreat in US bond yields last week, together with very strong economic data, buoyed risk assets in general, including equities, commodities and credit. The dollar did not fare well, unsurprisingly, and fell against every other G10 currency and major emerging market currency. Strength in oil and copper prices…
Post date: 12/04/2021 15:19 US bond selling has abated and yields in Treasury bonds appear to be range-bound for now, with the 10-year rate oscillating between 1.60% and 1.75%. The dollar had a mixed week, pulling back against every G10 currency except the pound as well as most emerging market currencies. We do not expect…
Post date: 06/04/2021 12:34 In a holiday-shortened trading week risk assets continued to rally, led by US stocks, seemingly ignoring the clear upward trend in global rates. A strong payrolls report out of the US was no help to the dollar, which sold-off against every other G10 currency. Emerging market currencies joined in the party,…
