Thursday, 28 July 2022 Please click here to read the PDF version Markets • The Fed as expected lifted policy rates by 75 bps to what is now considered a neutral 2.25/2.50%. Chair Powell made clear that more tightening is appropriate as inflation remains high and the labour market still Read more…
Thursday, 16 June 2022 Please click here to read the PDF version Markets • Yesterday didn’t bring the boring intraday countdown that often guides trading going into a Fed decision. After the recent sharp rise in yields and risk sell-off, investors scaled back on recent unidirectional positioning, whatever the outcome Read more…
Thursday, 5 May 2022 Please click here to read the PDF version Markets • The Fed yesterday as expected raised its policy rate by 50 bps, bringing the target range to 0.75%-1.0%. More 50 bps hikes are likely in coming meetings. In a direct address to the American people, Chair Read more…
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…
Thursday, 17 March 2022 Please click here to read the PDF version Markets • Lift-off. We have a lift-off. The Fed hiked its policy rate yesterday by 25 bps to 0.25%-0.50% in a near unanimous vote. St.-Louis Fed Bullard dissented in favour of a 50 bps rate hike. Such move Read more…