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The US and Japan struck a deal to lift the 2018 steel tariffs (25%) starting April 1. ECB President Lagarde seemed to move into damage control mode yesterday after her hawkish comments at last week's central bank meeting spurred the jump in European rates. The domestic protests ag...
Natural gas in Europe and the US is under pressure. China's markets re-opened today after last week's holiday. A flattening curve and a falling breakeven are what one would expect with a credible central bank policy. For further details see: European Rate Surge Continues...
As we begin 2022, several influential macro themes will be impacting the FX market. Inflation is the one to watch, as Lagarde has argued that the drivers of these pricing pressures were likely to fade over the medium term, which is the horizon that matters for monetary policy. Slo...
The global central bank community has been wrong on inflation. Euro zone inflation rose to a new record high last month, defying expectations for a big drop and piling pressure on the European Central Bank to finally admit that price growth is not as temporary and benign as it has lon...
The US premium is narrowing for the sixth session, and it is more than 30 bp tighter. The swaps market is pricing in about 10 bp of tightening by the ECB around mid-year. Elevated yields and firmer stocks helped the dollar extend yesterday's gains. The US dollar has forged a shelf...
The eurozone's unexpected rise in January CPI did not appear to change the swaps curve which has about 30 bp of higher rates discounted over the next 12 months. Europe's Stoxx 600 advance has stopped at three sessions. Information technology is the biggest drag, and the benchmark is o...
Pressure is growing on the European Central Bank to raise interest rates as eurozone inflation hit a record 5.1% in January, topping estimates by the most in two decades. Until now, the ECB has lagged other central banks in responding to escalating price pressures, and has said it wouldn't in...
Emerging market currencies are more mixed. Eurozone inflation surprised the market. Oil prices remain firm. For further details see: Eurozone Inflation Surprises Higher, But German Rates Slip
The NASDAQ rallied around 7.5% and is trading a little firmer ahead of the US open. Many Asian centers remain on holiday, but Japan, Australia, New Zealand, and India all advanced. Europe's Stoxx 600, with a four-week loss in tow, is up about 1% near midday in Europe, led by indus...
After reviewing the current year to gain a perspective for 2022, this article summarises the outlook for the dollar, the euro, and their financial systems. And finally, we look at silver, which is set to become the star performer against fiat currencies, driven by a combination of poo...
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ProShare Advisors and ProShare Capital Management announced today plans to liquidate and close six ProShares Trust ETFs and two ProShares Trust II ETFs based on an ongoing review of ProShares product offerings. Specifically, the following ETFs will be liquidated and closed: The last...