Seeing the drama he inspired on Tuesday, the Fed chair tried soft-pedaling the idea that he was signaling a 50 bp hike in March. The market did not buy it. And the odds, discounted by...
The focus is squarely on the Federal Reserve today. There is nearly universal agreement that it will lift the target by 25 bp. The market is inclined to see the shift as a sign that...
With the market nearly ruling out a 50 bp hike by the Federal Reserve on February 1, the interest rate adjustment appears to have largely run its course. This may be helping to ease the...
Experts are constantly warning that countries such as the United States and the United Kingdom may face a recession amid the global recession. Meanwhile, the Indian rupee continued to depreciate due to the slowdown in...
The dollar continues to ride high. It reached its highest level against the yen since the recent intervention. The Canadian dollar has fallen to its lowest level in two-and-a-half years and the New Zealand dollar...
Verbal intervention proved sufficient to keep the US dollar below JPY145, but the greenback gained broadly. It rose to new two-year highs against the dollar-bloc and Chinese yuan ahead of the weekend and to levels against...
The capital markets are quiet today. Equity markets and bond yields have a slight upside bias, while the dollar is little changed. Despite reports that the lockdown in Chengdu is easing, Chinese equities underperformed in...
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 market is a fickle mistress. The major central banks were judged to be behind the inflation curve. Much teeth-gashing, finger-pointing. Federal Reserve Chair Powell was blamed for denying that a 75 bp hike was under...
New week, same refrain. Stocks down, yields up, and the dollar is broadly higher. The Nikkei and Taiwan fell by more than 2% and South Korea and Australia were off more than 1%. China’s Shanghai...
The sharp sell-off of US equities yesterday weighed on global equities today. The Asia Pacific bourses were a sea of read with many of the large markets off 2%-3%. Japan, which returned from a three-day...
Russia’s decision to cut gas supplies to Poland and Bulgaria and the sharp sell-off in US equities yesterday casts a pall over the markets today. But not the dollar. The euro punched through $1.06 for...