The back-to-back surprise rate hikes by the Australia and Canada spurred speculation that the Fed could hike next week, and this lifted US rates and helped the dollar recover. The odds of a hike increased,...
Another bizarre US debt ceiling episode is over. President Biden will sign the bill that was approved by the Senate late yesterday. It is a bit anticlimactic for the market, for which the US jobs...
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...
Equities are mostly lower, while bonds have risen. The dollar is trading in narrow ranges and mixed against the G10 currencies and emerging markets. Most Asian bourses were lower. The Nikkei (though not the Topix)...
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...
Many investors may be skeptical of the accuracy of Chinese data, but its stronger than expected February PMI animated the animal spirits and bolstered risk-taking appetites. Asia Pacific equities jumped, led by the 4.2% rally...
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,...
Asia Pacific bourses followed yesterday’s US loss, but after opening lower Europe’s Stoxx 600 has steadied. US futures are narrowly mixed ahead of the US jobs report. Benchmark 10-year yields are higher across the board....
It is commonly known that the dollar, the pound, the euro, and the yen dominate the world’s trade invoicing currencies. Regardless of origin and destination, exports and imports of nations frequently use these currencies, with...
Sterling’s pounding continued in Asia where it was driven to $1.0350, a new record low before stabilizing. UK rates also continued to rise sharply after the new government promised more tax cuts next year. The...
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...
