Sunset Thursday, June 30, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • Moves on core bond markets are once again impressive today. Recession fears are holding a tight grip. Investors are pricing out central bank rate tightening, especially for the euro zone. This is happening Read more…
Thursday, 30 June 2022 Please click here to read the PDF version Markets • Markets yesterday still showed highly sensitive to any headline on inflation. Even the CPI release from the German state of North-Rhine Westphalia triggered a nervous start on (European) bond markets. The lower than expected inflation print Read more…
Sunset Wednesday, June 29, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • The first German regional CPI number immediately grabbed investors’ attention this morning. North Rhine Westphalia CPI fell by 0.1% M/M to moderate from 8.1% Y/Y to 7.5% Y/Y. The euro fell with EU Read more…
Wednesday, 29 June 2022 Please click here to read the PDF version Markets • European bonds continued to underperform their US peers yesterday. ECB Lagarde sharpened the central bank’s communication at the Sintra symposium. If necessary, the ECB would act in a determined and sustained manner to tackle inflation. Conditions Read more…
Sunset Tuesday, June 28, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • Recent underperformance of EMU bond/interest rate markets versus the US continues. European investors kept a close eye at comments and speeches at the ECB forum in Sintra. Before and at the June 9 Read more…
Tuesday, 28 June 2022 Please click here to read the PDF version Markets • European stock markets still opened strong, but gradually lost last week’s vigor as the trading session got going. US stocks eventually closed 0.2% (Dow) to 0.7% (Nasdaq) lower. The same gravity law applied again for core Read more…
Sunset Monday, June 27, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • Markets started the new week on the cautiously positive tone, building on Friday’s risk rebound. The move resumed in Asia and was extended early in European dealings, but sentiment dwindled as the session Read more…
Monday, 27 June 2022 Please click here to read the PDF version Markets • The short squeeze on bond markets stopped on Friday. US Treasuries underperformed German Bunds during the WS risk rally (+3%). US yields rose by 4 bps (5-yr) to 5.9 bps (30-yr). German yields ended narrowly higher Read more…
Sunset Friday, June 24, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • German bond yields rebounded a few bps after an outright implosion yesterday but the move clearly lacked dash. Gains get capped to a mere 2 bps at the front-end as US dealings get Read more…
Friday, 24 June 2022 Please click here to read the PDF version Markets • The German Bund excelled yesterday. European PMIs showed momentum weakening rapidly and more than expected. High inflation, ongoing supply snarls, uncertainty related to the war in Ukraine and tighter financial conditions heavily weigh on activity, demand Read more…