The market sentiment remains fragile. Equities are mostly lower. Japan was a notable exception, and concerns about China’s economy after a sharp decline in imports took mainland and Hong Kong listed companies sharply lower. Europe’s...
A combination of a surprisingly strong prices paid component to the US manufacturing PMI, corporate supply, and US debt woes spurred an almost 15 bp spike in the US 10-year yield and 13 bp jump...
Perhaps it was the extent of First Republic Bank’s loss of deposits that were reported with earnings yesterday, but risk appetites dried up today. Asia Pacific equities were trounced outside Japan today. Hong Kong and...
As the long-holiday ends, risk appetites have returned. Equities and yields are mostly higher. The dollar is seeing yesterday’s gains pared. Yesterday’s setback in the yen helped lift Japanese stocks, with the Nikkei advancing 1%....
There is a fragile calm in the capital markets today ahead of the long holiday weekend for many. The poor US economic data yesterday and third consecutive decline in the KBW bank index weighed on...
The market has concluded that the Fed will hike rates today. The US two-year yield has risen from about 3.63% at Monday’s lows almost 4.20% yesterday. It needs to rise to 4.35% to recover half...
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 on the US CPI report today, but the price action is anything but intuitive. Although the revisions of the basket and methodological changes reinforce expectations for the largest rise in three months,...
The capital markets are quiet today with Japan on holiday and the US on holiday tomorrow. Asia Pacific equities were mostly firmer after yesterday’s rally on Wall Street. Europe’s Stoxx 600 is about 0.25% higher...
China’s new initiatives to support the property sector helped lift the Hang Seng. And while the China’s CSI 300 edged higher both the Shanghai and Shenzhen composites fell. Most Asia Pacific markets fell, while Europe’s...
A consolidative tone has emerged ahead of the outcome of the FOMC meeting later today. The focus is not so much on the 75 bp rate hike, but on its forward guidance. Many expect the...
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...