URR News and Press, Morgan Stanley ZC SP REDEEM 30/04/2020 USD 40 From 04/22/21

The ability of Chinese manufacturers to meet demand has been constrained by the current scarcity of shipping containers. Supply chains were complex and tenuous before the COVID-19 virus pandemic, and have since become more so. Supply chains are difficult to manage, but indicators ...

The sell-off in US equities yesterday helped drag the Asia Pacific bourses lower today. Gold is little changed near $1780, and oil is consolidating at the lower end of yesterday's wide range and outside down day. Falling oil and equity prices saw the greenback squeeze higher yeste...

The dollar's weakness, where the Dollar Index is falling for the seventh consecutive session, maybe helping to unpin commodity prices. US equity futures have stabilized after yesterday's fall. North America has a light economic calendar today, and Fed officials are in the blackout...

A year ago, the COVID-19 crisis was beginning to pick up steam and optimism measured on many facets plummeted. In stark contrast to last year, we have a strongly recovering economy and, at least in the U.S., we have COVID-19 infections under control as vaccinations in our country are ...

Central banks are often credited with saving the world with their aggressive monetary stimulus during the GFC in 2008. Japan offers compelling insights into the relationship between central bank balance sheets, money supply, and inflation. Some investors are betting on inflation t...

The selling pressure on the greenback, evident last week despite a series of stronger-than-expected economic reports, carries over into the new week's activity. UK and EU officials met at the end of last week, but there is still no resolution of the vexing Northern Irish border proble...

The Dollar Index fell every day last week for the first time since last June. The euro had fallen to almost $1.17 on the last day of March and recouped nearly three cents in the first half of April. The decline of US yields in the face of the large coupon supply and strong price, ...

The euro remains the most undervalued of the major currencies, but not as cheap as it was a year ago when it was nearly 29% below the OECD's fair value calculation. The ECB has been encouraging a robust fiscal response, and while individual countries are boosting counter-cyclical spen...

The global economic recovery is gaining momentum as the world’s two largest economies continue to deliver robust economic readings. US stocks are steadily making fresh record highs and that could continue if Treasury yields take their time in recapturing the highs made at the e...

Like the dog that did not bark, the long-term US yields tumbled despite data that confirms the acceleration of the US economy and labor market. The 10- and 30-year bond yields fell by the most since the end of February (~8.5 bp) and are little changed today. The greenback finished...