Sunset Thursday, November 10, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • At last! At last a below-consensus US inflation number. At last a below-consensus US inflation number at the right time, coming on the heels of last week’s Fed meeting. Recall how markets initially 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…
Sunset Tuesday, September 20, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets: • Today’s story is a quite straight-forward one. Accelerating Japanese inflation numbers (3% Y/Y) showed during Asian trading hours that there’s no escaping the inflation trends. Even if the Bank of Japan is expected Read more…
Wednesday, 13 September 2022 Please click here to read the PDF version Markets • US Treasuries underperformed German Bunds yesterday. US yields added 1.4 bps to 6.5 bps with the 10-30yr bucket being worse off. The main move occurred in the wake of a very weak $32bn 10-yr Note auction Read more…
Friday, 9 September 2022 Please click here to read the PDF version. Markets • The world’s two biggest central banks were in focus yesterday. The ECB jacked up interest rates by an unprecedented 75 bps to bring the deposit rate at 0.75%. Growth may grind to a halt in the Read more…
Friday, 26 August 2022 Please click here to read the PDF version Markets • “It’s time to just go to a meeting-by-meeting basis and not provide the kind of clear guidance that we had provided”. It were the final remarks of Fed Chair Powell at the July Fed meeting after Read more…
Thursday, 14 July 2022 Please click here to read the PDF version Markets • Faster than expected US inflation (9.1% y/y) once again sent shockwaves through financial markets yesterday. US bond yields shot up as much as 18 bps at the short end of the curve before paring some of Read more…
Sunset Wednesday, July 13, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • Chinese trade data and comments by ECB Villeroy served as amuse-bouche for today’s main dish: June US CPI numbers. Chinese exports rebounded significantly in June as parts of the country (Shanghai) reopened. Exports 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…
Monday, 13 June 2022 Please click here to read the PDF version Markets • End last week it was confirmed that inflation remains the top concern, for markets and for central banks. On Thursday, the ECB admitted that price rises have become uncomfortably high, signaling a catching up move in Read more…