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Weekly Market Update

Post date: 27/06/2022 14:38 G10 currencies ended the week not far from where they had started it, as the news calendar turned relatively light and investors digested central bank communications. The week’s winners were the Norwegian krone and the Swiss franc, the latter boosted by the aftereffects of the Swiss National Bank’s dramatic hawkish surprise…

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Weekly Market Update

Post date: 20/06/2022 14:43 Some positive data out of the US helped allay concerns about global growth last week. In addition, Federal Reserve officials continue to sound hawkish. US rates rose sharply, providing support for the US dollar and sending most major currencies down. The main exceptions were the currencies of commodity exporting countries, including…

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Weekly Market Update

Post date: 13/06/2022 11:52 Risk assets worldwide endured a very difficult week. Inflation data continues to get worse and central banks are sounding increasingly strident alarms over the need to bring it down. Interest rates blew out worldwide; interestingly, this time European rates rose further than US ones, in response to a decidedly hawkish ECB.…

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Weekly Market Update

Post date: 06/06/2022 11:14 Some positive data out of the US helped allay concerns about global growth last week. In addition, Federal Reserve officials continue to sound hawkish. US rates rose sharply, providing support for the US dollar and sending most major currencies down. The main exceptions were the currencies of commodity exporting countries, including…

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Weekly Market Update

Post date: 23/05/2022 13:24 Last week saw some strange market action. Financial headlines were dominated by the relentless sell-off in world equity markets that left the S&P 500 index flirting with the semi-official bear market line of 20% below its record high. Among G10 currencies, the Swiss franc notched a rare win as the flight…

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Weekly Market Update

Post date: 16/05/2022 12:36 Wobbly stock markets trigger rush to safe-havens Another week of risk asset sell-offs had a predictable effect on currency markets. The Japanese yen topped the week’s performance charts, followed by the US dollar. European currency stalled again, and commodity currencies like the Norwegian krone and the antipodean dollars fell sharply. Emerging…

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Weekly Market Update

Post date: 09/05/2022 14:34 Interest rates are going up everywhere, hard and fast, and markets are finding it increasingly difficult to ignore the consequences. Stocks staged a relief rally in the wake of the Federal Reserve’s 50 basis point hike, but it was short-lived, and by the following day they resumed their downward trend, closing…

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Weekly Market Update

Post date: 25/04/2022 12:28 The key 10-year Treasury rate rose another 6 basis points to end the week above 2.90%. The sell-off in US fixed income is now spreading to other markets, with European yields moving higher as the long-awaited (by us, at least) hawkish turn in ECB communications begins to take place. On the…

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Weekly Market Update

Post date: 19/04/2022 12:52 The key developments in financial markets continue to take place in the US Treasury market. The Fed is squarely focused on bringing inflation back under control and is telegraphing one of the fastest tightening processes in history. US fixed income is selling off across the board, and the key 10-year Treasury…

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Weekly Market Update

Post date: 11/04/2022 12:52 Fading peace prospects weigh on euro, while surging US rates buoy dollar The euro finished the week at the bottom of the G10 rankings on concerns that the war in Ukraine will not stop any time soon, as well as jitters about the French presidential election. The carnage in the US…

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