The Fed’s hawkish pivot came a few weeks before yesterday’s FOMC meeting, which confirmed more or less what the market had already largely anticipated. Buy the (dollar) on rumors (of tapering and more aggressive stance...
The capital markets are calmer today, and the fear that was evident at the end of last week remains mostly scar tissue. Led by gains in Japan, China, Australia, New Zealand, and India, the MSCI...
Into the uncertainty over the implications of Omicron, the Federal Reserve Chairman injected a particularly hawkish signal into the mix in his testimony before the Senate. These are the two forces that are shaping market...
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...
Reports that the Fed’s Brainard was interviewed for the Chair helped soften yields a bit, not that they needed extra pressure, on ideas she is more dovish than Powell. In turn, the lower yields saw...
Three main forces are shaping the business and investment climate: Surging energy prices, a dramatic backing up of short-term interest rates in Anglo-American countries, and the persistence of supply chain disruptions. The US and Europe...
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...
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...
