The ECB will continue to lift rates due to sticky inflation and a tight labor market. Will it be enough to push long-term German yields higher?
Listen to a short summary of this report. Executive Summary Chart 1The Dollar Has Broken Below The First Line Of Support The softer CPI print in the US boosted growth plays and pushed the DXY index below…
The primary macroeconomic problem the world currently faces is containing rising inflation, especially the kind that is supply-side driven. This problem has become particularly acute in recent months since both equity and bond…
Executive Summary Structural Tailwinds For The Franc Volatility in FX markets is likely to remain elevated, as witnessed by the reaction of a full circle of central bank meetings this week.Policy convergence remains a good bet for…
The Swiss National Bank lifted its policy rate by 50bps to -0.25% on Thursday, surprising expectations that it would stand pat and marking its first rate hike in 15 years. In addition, the post-meeting statement noted that…
Executive Summary Inflationary Pressures To Fade The biggest problem for the European economy is surging inflation. Inflation has eroded household real disposable income and is hurting consumption. Inflation is set to…
Listen to a short summary of this report. Executive Summary The Dollar Likes Volatility Uncertainty about Fed policy has supercharged volatility in bond markets, and correspondingly, USD demand (Feature…
Executive Summary The structural downtrend in Chinese bond yields has a lot further to go, because it is helping to let the air out gently of stratospheric valuations in the real estate sector, and thereby preventing a hard landing for…