Weekly Market Update
Post date: 18/01/2021 12:49 Markets continue to ignore steadfastly the turmoil in Washington. Neither the chaos following the assault on the US Capitol nor the sale of an enormous amount of US bonds to finance the massive federal deficit caused more than a ripple in risk markets, and the US dollar in fact took advantage […]
Weekly Market Update
Post date: 11/01/2021 12:19 The extraordinary events at the US Capitol last week failed to impress financial markets. US stocks powered through to fresh highs, rates continued to rise, as did commodities, and the US dollar actually found its footing after weeks of losses. Investors obviously took the view that the US Congress was never […]
Weekly Market Update
Post date: 21/12/2020 13:52 Markets interpreted Chair Powell’s comments at the press conference as dovish, and they largely looked ignored the more hawkish message contained in the famous “dot plot” of actual interest rate projections. Beyond FX, risk assets mostly continued their grind higher. Special mention goes to commodities, which are rallying very hard into […]
Weekly Market Update
Post date: 07/12/2020 12:50 Investors used news that US Congress and President Trump are nearing an agreement on a fresh stimulus package as an excuse to sell the dollar against every major currency worldwide. This included Sterling last week, although the UK currency has nosedived so far this morning amid increasing jitters that Brexit deadlines […]
Weekly Market Update
Post date: 30/11/2020 12:05 Stocks, commodities and credit worldwide continued their scorching rally into the end of November. Optimism about COVID vaccines, fading fears about the transition of power to President-elect Biden, and confidence that monetary and fiscal policy worldwide will remain extremely accommodative throughout means investors are reaching out for the riskiest securities. Amid […]
Weekly Market Update
Post date: 23/11/2020 12:33 Last week saw some positive trading action in most emerging market assets, particularly currencies. We have been pointing to the cheap valuation of many of them, and the fact that most of them managed to post respectable gains in spite of a lacklustre week for other risk assets is certainly encouraging. […]
Weekly Market Update
Post date: 16/11/2020 13:47 As the US election and Biden’s victory receded into the background, the big news last week was the very promising results in a Pfizer/BioNTech COVID vaccine trial. Markets reacted euphorically on Monday. Although they gave back some of their early gains, stocks still posted healthy gains for the week. G10 currencies […]
Weekly Market Update
Post date: 09/11/2020 12:15 As the votes were tallied over the week in the key swing states, it became increasingly clear that Biden was headed for victory. While US authorities and media organisations were extremely cautious and delayed the decision until the weekend, markets celebrated earlier, with stocks rallying worldwide and safe-havens, including the US […]
Weekly Market Update
Post date: 02/11/2020 14:29 Risk assets tumbled last week and investors flocked into safe-havens, spooky by worsening pandemic numbers, new lockdowns in Europe and fears over US election volatility. Stock markets fell worldwide, while sovereign bonds put in a mixed performance: German Bunds rose but US Treasuries somewhat surprisingly fell through the week. The US […]
Weekly Market Update
Post date: 26/10/2020 12:17 Major currencies traded in very tight ranges last week, with every G10 currency ending the week within 1% of where it had begun. Most major markets beyond FX also experienced little changed. The main exception where government bond markets, as yields trended higher last week amid general steepening of rate curves. […]