Wednesday, 6 April 2022 Please click here to read the PDF version Markets • We’ve stressed on multiple occasions that any correction higher in the core bond sell-off remain fairly limited both in terms of magnitude and in terms of length. Yesterday’s trading session confirmed this once more and highlights Read more…
Sunset Tuesday, April 5, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • At first sight, the context for global trading today wasn’t much different from yesterday. Except for a strong US services ISM (58.3 vs 58.5 expected), there were again hardly any data with market Read more…
Tuesday, 5 April 2022 Please click here to read the PDF version Markets • The EU condemned Russian war crimes in Ukraine and looks into stepping up economic sanctions. The risk of a new escalation increases and triggered a first meaningful correction higher in European bonds in over a month. Read more…
Sunset Monday, April 4, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • (European) markets took a hesitant start to the new trading week. Today’s eco calendar was thin and data with market moving potential will also be scarce for the remainder of the week. So, the Read more…
Monday, 4 April 2022 Please click here to read the PDF version Markets • Record-high EMU inflation (7.5% Y/Y in March) and stellar US payrolls (431k; 3.6% unemployment rate) hijacked headlines last Friday. They kept the US bear flattening trend in place even if oil prices remained near recent lows Read more…
Sunset Friday, April 1, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • Investors were relatively cautious to place strong directional bets at the start of the new quarter. There was no follow-through price action on yesterday’ risk-off move. Or was it simply an end of Read more…
Friday, 1 April 2022 Please click here to read the PDF version Markets • The massive core bond yield surge eased or reversed after having experienced the worst month in many decades. European swap yields registered the biggest monthly jump since the creation of the EMU, even after giving up Read more…
Sunset Thursday, March 31, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • ECB chief economist Lane spent most of today’s speech in Paris reminiscing on the ECB’s “successful” monetary policy response to the pandemic. He took the opportunity as net asset purchases under the Pandemic Emergency Read more…
Thursday, 31 March 2022 Please click here to read the PDF version Markets • Rising energy prices after Germany initiated the first of its three-phased emergency plan and red hot European inflation prints from Belgium over Germany to Spain smacked German bunds in real Will Smith style. Short-term yields at Read more…
Sunset Wednesday, March 30, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • Two main stories were running the show on markets today. Both of them supported the ongoing core bond sell-off which recently concentrated on European markets. Germany initiated the first phase of a three-staged Read more…