URR News and Press, Morgan Stanley ZC SP REDEEM 30/04/2020 USD 40 From 03/18/20

By Chris Turner, Global Head of Markets and Regional Head of Research for UK & CEE & Antoine Bouvet, Senior Rates Strategist Good take-up of ECB USD swap line Today's ECB swap auction saw good take-up of the 84 day USD auction - US$76bn was allotted. The EUR cross-currency basi...

Overview A new phase of the market turmoil is at hand. Bonds are no longer proving to be the safe haven for investors fleeing stocks. The tremendous fiscal and monetary efforts, with more likely to come, have sparked a dramatic rise in yields. Meanwhile, equities are getting crushed again. S...

By Petr Krpata , Chief EMEA FX and IR Strategist et al. As Covid-19 spreads across Europe causing more and more countries to take extraordinary measures, Central and Eastern Europe is no exception. Following some big market and central bank moves, our CEE specialists have updated our...

Overview: While the markets are not as disorderly as they have been, the tone is fragile, and the animal spirits have been crushed. Australian stocks fell more than 10% last week and dropped another 9.7% yesterday before rebounding by almost 6% today to be one of the few Asia-Pacific equity ...

Macro News Global: As more and more countries are now facing a national lockdown, central banks have been taking coordinative actions in the past two weeks, cutting rates aggressively and announcing the launch or the expansion of asset purchase programs in order to avoid a complete meltdow...

The basic economic problem As Keynes pointed out, entirely free markets do indeed work - eventually. The problem is that an economy can get stuck at less than fully productive output levels and get stuck there for considerable periods of time. Like, years and years is a possibility. Theref...

The dollar is the world's reserve currency, which means it is the foreign exchange instruments that most central banks hold in their reserves. The euro is the second choice when it comes to the currency, central banks around the world hold. A reserve currency reflects economic stability and ...

Markets have been frankly wild recently. Equities have collapsed firmly into a bear market. Politics may be playing a part, while the coronavirus (which causes the COVID-19 disease) is still taking center stage, yet it is important to consider that equities were considerably strong going into ...

The dollar soared last week as a collapse of equity markets and disruption even to sovereign bond markets unveiled a large shortage of dollars. This shortage was seen in the spread of onshore and offshore dollar rates and in the cross-currency basis swaps. The strain seems less evident in th...

By Ed Moya A fourth week of heightened volatility will see financial markets continue to focus on the coronavirus spread across Europe and the US. The economic impact of the virus is deepening, and expectations are high for the week ahead to see another wave of massive monetary easing and ...