UPV News and Press, ProShares Ultra FTSE Europe From 08/10/21

Hawkish soundbites and positive economic news dominate for the US, despite global growth concerns. Officials talking about tapering within a few months should help focus minds at the long end of the curve, despite a supportive technical backdrop for bonds. A glut of cash remains i...

The U.S. is passing the baton in leading the economic restart to other developed markets; but we see fresh challenges in many emerging markets. Better-than-expected U.S. jobs data drove U.S. 10-year bond yields to the highest level in two weeks. U.S. stocks hit record highs. China...

The continued flattening move in the rate market suggests no major change in market dynamics as the case for Fed tightening becomes increasingly convincing. More upbeat economic data this week, and hawkish soundbites, would only displace bond demand towards longer maturities. We m...

Central banks are being forced to address many challenges—inequality, climate change, and debt management to name but three. Given these tensions, will controlling inflation retain its overriding precedence? As priorities change, we believe inflation is on the verge of an i...

Global equity markets have diverged widely lately, with European and US stocks strongly outperforming the rest of the world. Despite recent strength, Europe has performed roughly in line with its global peers since last year. Contributions to the FTSE All-World ex USA returns were...

So historically we have not seen negative yields. Ever. I’ve looked at a lot of history books, I have not found persistent nominal negative yields, at least in written history. Right now, it would be a little bit tough to say that interest rates are free. Interest rates are whe...

The Eurozone’s economy as measured by GDP expanded by 2% q/q in the second quarter, significantly faster than expected, indeed faster than the economies of the US and China. The most important driver of the Flash Composite PMI for July was the Flash Eurozone Services PMI Activi...

Capital expenditure expectations appear to have recovered from pre-pandemic levels in most major regions and are trending upwards according to analyst estimates. For the U.S. index, the 12-month forward capital expenditures estimate is currently $885.6 billion, up 13.8% year-over-year...

A marked fall in business optimism in July hints that companies could become reticent to expand capacity while the pandemic continues to hit supply chains. Output growth continued to run behind the growth of new orders for a fifth straight month, meaning backlogs of work rose sharply ...

The growth of eurozone manufacturing cooled slightly in July after a record-breaking expansion during the second quarter. Many firms clearly want to produce more goods but are simply unable to due to constraints. Mounting concerns about how the Delta variant poses a further threat...