URR News and Press, Morgan Stanley ZC SP REDEEM 30/04/2020 USD 40 From 10/07/21

The sharp upside reversal in US shares yesterday carried over in Asia and Europe today. The Asset Purchase Program had strict parameters in terms of the capital key and country limits. US weekly jobless claims have risen for the past three weeks. For further details see: ...

The Nikkei fell for the eighth consecutive session, and today's 1% drop brings the cumulative decline to 9%. The Reserve Bank of New Zealand became the second high-income country to hike rates. The US dollar appeared to break the neckline of the possible head and shoulders topping...

Inflation concerns are a problem for fixed income markets. But it is a return to positive economic surprises that will prove the most potent driver of higher rates in the coming weeks. As the ECB diverts the focus away from the amount of its purchases, we think sovereign spreads s...

The markets remain unsettled. The surge in energy prices, the fears emanating from China's property market, and the unresolved US fiscal drama weigh on sentiment. While the German and French flash services and composite PMIs were revised higher, Spain and Italy disappointed. The U...

The dollar slipped to a five-day low a little below JPY110.90 in early activity, but by late morning turnover in Europe was probing the JPY111.25 area. Sterling bottomed in the middle of last week ahead of $1.3410, and before the weekend, was probing $1.3575. The US Congress manag...

Rates have adjusted higher over the course of the week, with the unabated rise in energy prices adding to the backdrop of central banks having turned more hawkish. Next week's US jobs data could cement a Fed taper announcement in November and add to the markets' feeling of a mistake i...

Investors continue to sell equities today. The Asia Pacific was a sea of red, with Japan, Australia, and Taiwan off 2% or more. The decline in the UK's manufacturing PMI was not as severe as the preliminary estimate implied. A shutdown of the US government has been averted. ...

Interest rates, ostensibly the fuel behind the dollar's surge, pulled back a little in the US yesterday. However, the greenback's rally continued, lifting it to new highs for the year against sterling, the euro, and yen. The US dollar spiked to a three-month high yesterday against...

Sterling is the weakest major currency this month and yesterday's drop of more than 1.1% was the largest in over a year. The looming debt ceiling may have encouraged some banks to avoid the T-bills that expire in mid-October and push more funds into the reverse repo facility, which sa...

The rates market sell-off has extended, albeit losing some steam. While the GBP inflation narrative grabbed the headlines, USD rates dynamics indicate it is more a repricing of monetary policy. Only the ECB is distancing itself from the hawkish turn, at least with some success as ...