FEEU News and Press, Barclays ETN FI Enhanced Europe 50 ETN From 07/05/21

With all the talk about inflation expectations, central bank policy, rising Treasury yields and fiscal policies, equity investors are trying to make sense of the market by focusing on the interest rate sensitivity of valuations and the tug of war between growth stocks and value stocks. ...

The risk tone has worsened, but month-end flow as well as supply muddy the picture and we see the risk of a pullback today. The ECB has provided the market with a clear reaction function to trade off; the key data releases ahead will help US markets get a clearer grasp of the Fed's. ...

Faced with higher inflation numbers, the Federal Reserve has begun to create more meaningful parameters around its evolving stance on monetary policy. Although the changes could be less dramatic than many expect, we believe that investors should be prepared for higher market volatilit...

Inflation figures, which had been more harmonized than not for decades, all of a sudden they are acting a bit too idiosyncratic for once. That’s actually a red flag warning against inflation. The Treasury market is the farthest out of whack to inflation estimates. US inflation ...

USTs maintain the global lead for outright yields. EUR curve dynamics have decoupled amid EU supply and a steady drumbeat of dovish comments from the ECB to ensure a calm summer. Country CPI data bears upside risks today, but nothing that the ECB wouldn't look through. For f...

The potential for higher U.S. taxes, coupled with regulatory risks and shifting growth momentum, tempers our near-term enthusiasm for U.S. equities. Euro area business activity surged in June as the region catches up on the restart that has been led by the U.S. and UK. Investors w...

The BoE has dealt a temporary setback to hawkish bets, but only inflation will show when it eventually pulls the trigger. In any case, we expect this cycle to be shallow. Supply pressure will be felt by EUR rates in the coming days, but it should prove temporary. Next week's US jo...

The Bank of England's latest statement is a little more upbeat than might have been expected, but crucially offers no new clues on rate hike timing. The Bank has kept both rates and QE on hold this month, despite a vote to end the latter early from outgoing Chief Economist and arch-ha...

The longer a period of elevated inflation - or at least fear of elevated inflation - persists, the higher the risk that a perceived transitory phenomenon could become permanent. We still believe this period will be transitory, but the transition period looks longer and wobblier than p...

Many will disagree that the Fed has already hiked rates, but it has. Just by 5bp, and only techncial, but there is still an impact. Pricing the front end with the excess of liquidity is tough, but it still looks too low (in yield). The long end looks a bit lost now, having flatten...