Macro

The markets absorbed two shocks last week. The war in Israel that seems to know of no restraint underpinned oil prices and appeared to help boost gold and the Swiss franc, the only G10 currency to appreciate against the dollar. The other was the continued deluge of US Treasury supply, the coupon auctions that tailed …

Week Ahead: Softness in US Real Sector, Key UK and Canadian Data, and China’s Q3 GDP Read More »

The US dollar was mixed last week. One would have thought, based on the geopolitical tensions, the stronger than expected US economic data that resulted in upward revisions to Q3 GDP forecasts and a more than 30 bp surge in US 10-year yields, the greenback would have performed better. The Dollar Index fell by almomst …

Week Ahead: Q3 US GDP to Underscore Divergence, while ECB and Bank of Canada Stand Pat Read More »

As April draws to a close, the systemic stress in the banking sector continues to subside, and the market is turning its attention to likely rate hikes by Federal Reserve and European Central Bank in early May. Although, as in March, the market sees the May hike to 5.25% to be the last Fed hike. …

Ueda Chairs First BOJ Meeting, and US and EMU Provide First Estimate of Q1 GDP: The Week Ahead Read More »