Sunset Wednesday, March 15, 2023 Daily Market Overview Click here to read the PDF-version of this report. Markets • News this morning of a major Credit Suisse shareholder ruling out a capital injection in the ailing Swiss bank not only rekindled a still lingering fire, it fanned it into an roaring blaze. Read more…
Wednesday, 15 March 2023 Please click here to read the PDF version Markets • Volatility on especially rate markets remained high yesterday. Markets in the end erased part of the fallout of the SVB and Signature Bank collapse & government deposit bailout. The jury is still out on whether these Read more…
Sunset Monday, March 13, 2023 Daily Market Overview Click here to read the PDF-version of this report. Markets • During the weekend, US authorities took steps to restore confidence in the US financial system after the collapse of Silicon Valley Bank (SVB). They included full protection for all depositors of SVB (and Read more…
Thursday, 9 March 2023 Please click here to read the PDF version Markets • US and European interest rate markets diverged further yesterday. German/EU yields didn’t see much spill-over from Tuesday’s sharp post-Powell repositioning in US markets. The German curve inverted further (2-y yield up 2.5 bps, 30-y minus 6.4 Read more…
Sunset Wednesday, March 8, 2023 Daily Market Overview Click here to read the PDF-version of this report. Markets • Global markets today took a breather after yesterday’s sharp repositioning. At his hearing before the Senate, Fed Chair Powell admitted that rates most likely will have to be raised further than assumed in the Read more…
Wednesday, 8 March 2023 Please click here to read the PDF version Markets • At the hearing before the Senate Banking Committee, Fed Chair Powell repeated that inflation in the core goods sector has fallen while housing services prices are also decelerating. Still, there is little sign of disinflation in Read more…
Sunset Tuesday, March 7, 2023 Daily Market Overview Click here to read the PDF-version of this report. Markets • Fed Chair Powell in front of the US Senate as expected said that the ultimate peak interest rate level would be higher than expected in December (5-5.25% median projection in the dot plot). Less Read more…
Sunset Wednesday, November 2, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • US yields are an insignificant 2 bps lower on the day, ignoring another strong ADP employment report for October (+239k vs +185k expected). German Bunds underperform with yields up to 3 bps higher Read more…
Wednesday, 2 November 2022 Please click here to read the PDF version Markets • Asia’s equity scorching rally (HK more than +5%) following unconfirmed social media reports that China is preparing its exit from zero-Covid was met by a lukewarm European response. Stocks rose less than 1%. Wall Street traded Read more…
Thursday, 22 September 2022 Please click here to read the PDF version Markets • Russian President Putin’s announcement of a partial mobilization raised concerns on the next episode in the war in Ukraine. It triggered a European risk off with higher European gas and oil prices, a temporary decline in Read more…