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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
Weekly Market Update
Post date: 04/04/2022 13:44 The euro, together with the Swedish krona and the Swiss franc led the G10 rankings last week. The sense that the Russian invasion may be entering a less catastrophic stage certainly helped, as did the pullback in oil prices after Biden announced massive sales of oil from the US strategic reserve […]
Weekly Market Update
Post date: 31/03/2022 19:00 The worldwide inflationary episode continues to upend expectations and historical correlations. The bloodbath in world bond markets took a turn for the worse last week, sending the 10-year Treasury yield close to the psychological level of 2.50% that was crossed at the start of this week. However, world stock markets continue […]
Weekly Market Update
Post date: 22/03/2022 06:18 Stock markets and risk assets generally posted impressive moves last week, discounting the impact of the Russian invasion of Ukraine and treating Fed hawkishness as a case of “buy the rumour, sell the news”. As an example of the optimism pervading financial markets, European stock indices closed the week at essentially […]