Sunset Friday, December 9, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • With no eco data with market moving potential scheduled for release in the EMU, European fixed income traders kept a close eye on how much TLTRO funding banks had returned at the second Read more…
Friday, 9 December 2022 Please click here to read the PDF version Markets • To say it hasn’t been the most exciting week is an understatement. Volumes are typically low this time of the year and are being further depressed by looming event risk in the form of a central Read more…
Sunset Thursday, December 8, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • No surprises today. The near-empty eco calendar and (near) blackout periods for central banks delivered the feared-for dull trading day. Not the slightest diversion to trigger some directional action. The only release worth Read more…
Thursday, 8 December 2022 Please click here to read the PDF version Markets • A third consecutive session of low trading volumes saw US Treasuries jump significantly higher. After a calm European trading session, the final figure of third quarter unit labor costs (I kid you not) lightened the fuse. Read more…
Sunset Wednesday, December 7, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • In a session deprived of important data, technical considerations were the main driver for trading. The German 10-y yield at the open briefly dropped below the 1.77% neckline/early October low. The test is Read more…
Wednesday, 7 December 2022 Please click here to read the PDF version Markets • US stock markets lost more dash yesterday, ceding again up to 2% (Nasdaq) in the close and completely erasing the exaggerated reaction to last week’s dovish interpreted Fed Chair Powell speech. Technically, the S&P 500 failed Read more…
Sunset Tuesday, December 6, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • Your average daily soap opera tonight will most likely hold more plot twists than markets do today. European equity markets whipsawed in a tight range just below the zero point and WS opens Read more…
Tuesday, 06 December 2022 Please click here to read the PDF version Markets • “All” it took for US investors to digest Friday’s strong payrolls was a weekend of time, another eye-opening WSJ article and a strong US non-manufacturing ISM. Recall that the initial post-payrolls move (higher yields, stronger dollar, Read more…
Sunset Monday, December 5, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • When the Fed wants to make some last-minute changes to market positioning going into a Fed policy meeting, they often make use of their favorite news media, the Wall Street Journal, to dot Read more…
Monday, 5 December 2022 Please click here to read the PDF version Markets • The reaction to Friday’s strong payrolls report is telling. Net job growth beat consensus at 263k with average hourly earnings growth accelerating to 0.6% M/M and 5.1% Y/Y. The unemployment rate stabilized at 3.7%, though a Read more…