After a couple of sessions of taking on more risk, investors are taking a break today. Equities are mostly lower today after the S&P 500’s six-day advance took it almost to its record high, while the...
In assessing the trajectory of Fed policy the market is discounting, we prefer using the Fed funds futures contracts over the Eurodollar futures. The Fed funds settle at the average effective rate, while the Eurodollar...
Interest rates, ostensibly the fuel behind the dollar’s surge, pulled back a little in the US yesterday. However, the greenback’s rally continued, lifting it to new highs for the year against sterling, the euro, and...
The week is winding down and risk-appetites seem vulnerable even though the MSCI Asia Pacific Index pared its first weekly loss in four, led by gains in Tokyo and Hong Kong. With those gains, Japanese...
Federal Reserve Chairman Powell’s long-anticipated speech at Jackson Hole provided fireworks but not quite what the market had expected. Confirmation of tapering was supposed to lift US rates and the dollar. Instead, the opposite took...
Neither the chaos and tragedy unfolding in Afghanistan nor the US refusal to acquiesce to the allies’ request to extend the August 31 deadline seems to have much impact on the global capital markets. Instead,...
Profit-taking on long dollar positions was seen ahead of the weekend. The yield on the December 2022 Eurodollar futures slipped to finish unchanged on the week that saw CPI and PPI reports. The preliminary University of...
The global capital markets are subdued today as investors wrestle with the rising virus, the shifting stance of several central banks, and a more tense geopolitical backdrop. Equity markets are struggling today. Most of the...
Record high closes yesterday for the S&P 500 and NASDAQ have done little to help global equities today. Most of the Asia Pacific region markets, but Japan and Australia slipped ahead of the weekend while...
The US had a difficult week, falling against nearly all the major currencies, recording new lows for the month against the euro, Swiss franc, and sterling among the major currencies. Indeed, the euro and sterling...
It is not China’s aggressive foreign policy that is the source of the disturbance in the capital markets, but its aggressiveness at home as it asserts control parts of the tech sector and toughens its...
The biggest rally in US equities in four months has helped stabilize global shares today. In the Asia Pacific region, Japan, China, and Australian markets advanced. Led by information technology and consumer discretionary sectors, Europe’s...
