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The US dollar's strength appears to confound fundamental and technical considerations. The cross-currency basis swaps have swung hard from a large dollar premium to a record discount (against the euro, sterling, and yen). No fewer than 10 central banks drew on the currency swap lines with th...
Overview: After US stocks dropped more than 4% yesterday, investor sentiment has improved, apparently sparked by ideas that the pain will force oil producers to find a way to reduce supply. Oil prices have surged, with the May WTI contract rallying around 7%. Asia Pacific equities were mostl...
Macro News Global: We are currently entering a phase of extremely weak economic fundamentals with all developed economies experiencing the weirdest and highest rate of change in all the indexes’ history. For instance, we saw that US initial claims jumped to 3.28 million in the wee...
Overview: The coronavirus plague upended the world in March. Equities are finishing the month on a firm note. Strong gains in the US yesterday and an unexpectedly strong Chinese PMI (yes, to be taken with the proverbial grain of salt) helped lift most Asia-Pacific and European markets today....
By Chris Turner, Global Head of Markets and Regional Head of Research While monetary and fiscal policy have moved in tandem in the US, coordinated fiscal measures (coronabonds) have still not found enough 'friends' within the EU. Meanwhile, the USD funding concerns may ease further th...
Overview: Risk appetites remain in check as the spread of the coronavirus is leading to more and longer shutdowns. Asia Pacific equities fell with Australia, the notable exception. Its benchmark rallied a record 7%, encouraged by additional stimulus measures. Led by financials, following new...
By Philip Lawlor, managing director, Global Markets Research US investors have been licking their wounds from their overseas returns as the weakness in non-US currencies have significantly affected returns. The chart below, which compares global equity returns since the peak in global equi...
The dollar rallied strongly from March 9 through March 20 or the start of last week on March 23. It has subsequently sold off and done so in dramatic fashion. It is not clear the trigger of the stunning reversal. Some observers attribute it to the Fed's currency swap lines, which were offere...
Japan's PM Shinzo Abe promised 'unprecedented stimulus' to mitigate the economic effects of rise in COVID-19 cases, reports Reuters. More news on: iShares MSCI Japan ETF, WisdomTree Japan Hedged Equity ETF, Invesco CurrencyShares Japanese Yen Trust ETF, Global news and forex, Top stock m...
By Chris Turner , Global Head of Markets and Regional Head of Research We forecast USD/JPY at 105 in three months. Here are three reasons why: (1) Japan’s GPIF probably will not pour money into overseas bonds when $/JPY is above 110, (2) the rally to 112 was largely down to US...
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Citigroup Global Markets Holdings Inc ZC SP ETN REDEEM 15/12/2032 USD 25 Company Name:
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Citigroup Global Markets Holdings Inc. (“CGMHI”) announced today that it will accelerate at its option, and in full, the ten series of exchange-traded notes listed in the table below (the “ETNs”). Holders of the ETNs will receive a cash payment per ETN in...