Tuesday, 27 September 2022 Please click here to read the PDF version Markets • We cannot but kick off with the UK again. Aggressive selling in UK bonds and the pound prompted a coordinated response by Treasury and the Bank of England. Markets were all but impressed. UK yields again Read more…
Friday, 23 September 2022 Please click here to read the PDF version. Markets • Wednesday’s ‘hawkish’ 75 bps Fed rate hike only reinforced markets’ belief that tightening of global financial conditions still has some way to go. Other central banks including the Norges Bank (+ 50 bps), the Swiss national 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…
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…
Tuesday, 31 May 2022 Please click here to read the PDF version Markets • Surprisingly high and accelerating inflation in Belgium, Spain and Germany defined an exclusively European trading session yesterday (US closed for Memorial Day). European/German yields were already headed north at the open in an attempt to shake Read more…