A GBP130 bln initiative by the new UK government to protect households from the surge in power costs helped lift sterling from 2.5-year lows. The Reserve Bank of Australia delivered the expected 50 bp rate...
The poor eurozone PMI underscores likely recession and weighs on the single currency, which was sold to a new 20-year low. Rather than a “Turn Around Tuesday” a broadly consolidative session is unfolding. Asian and...
The higher-than-expected US CPI and the strong expectation of a 100 bp hike by the Fed in two weeks is propelling the dollar higher. It jumped to almost JPY139.40 and the euro is off more than...
The dramatic collapse of the Turkish lira was like an accident one could not help look at, but it was not an accident, but the result of a disregard for the exchange rate and compromised...
The market awaits the ECB meeting and the first look at the US Q3 GDP. The pullback in US shares yesterday was a drag on the Asia Pacific equities. It is the first back-to-back loss...
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...
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...
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...
Falling US yields weigh on the US dollar. The 10-year Treasury yield is flirting with the 1.50% mark, and the greenback is trading heavily against all the major and most emerging market currencies. European and...
The debt of US nonfinancial businesses had already surged in recent years, but when the Pandemic hit, businesses went on a borrowing binge as the Fed has repressed interest rates to record lows even for...
Despite the current scary surge in the pandemic, the worst of the economic damage is done even if the pace and scale of the recovery around the globe are far from clear.The UK is one...
A major source of banks’ optimism is their various expectations of an economic recovery in 2020. It has to be said that this is not widely shared by other forecasters (including both the Fed and...
