Recent Newsletters

Latest Newsletter
  1. Wednesday, June 17

    We thought the BAML global investor survey came at an interesting juncture ahead of today’s FOMC, and the real business end of the Greek debt negotiations because it gave the market a window in to how prepared investors are, and what asset allocation models might be suggesting (see below). The BAML survey shows most investors […]

  2. Tuesday, June 16

    As we head into the FOMC tomorrow, analysts note the continued mixed data on the US economy, with the Empire survey and manufacturing under performing while US housing demand (see below) outperforms especially in the context of higher 10-year Treasury yields. Analysts also note that the rise in yields comes at a time when there […]

  3. Monday, June 15

    Much of the focus across the street is undoubtably looking towards this week’s FOMC, and whilst many hours have been spent compiling end-of-week previews, there isn’t a great deal expected from the meeting to inspire market direction most analysts conclude. The belief is that this week is all about preparation of the ground by the […]

  4. Friday, 12 June

    There’s a degree of optimism in the air about the prospects for Europe as the week comes to a close, and this comes against the backdrop of Greek bailout talks on the the verge of breakdown. We seen a lot of analysis on the Bund market this week, and so to complete the set we’ve […]

  5. Thursday. June 11

    It seems analysts have taken the time to ponder last week’s price action in European bond markets, before putting pen to paper, given the raft of research we’ve had to read on the topic in recent days. Much of this work is based around where ”fair-value” for bunds should be priced, whether there’s likely to […]

  6. Wednesday, June 10

    The focus on emerging markets is only increasing with further weakness across all asset classes on Monday. Many researchers, as well as leading indicators, point to stagnating global trade, which coupled with the ongoing rise in global bond yields, expectations of Fed hikes in the 4th quarter, are leading to increasing concerns for EM outflows. […]

  7. Tuesday, June 9

    The stakes for emerging markets are rising with the MSCI Emerging Markets Index on its longest losing streak since 1990, with 11 straight days of declines, and that’s the focus of many analysts at the start of this week. Are we in the early stage of a market contagion? Today’s briefing features a detailed analysis […]

  8. Monday, June 8

    After an exhausting week in bond markets, much of the research published Friday and over the weekend was dedicated to reflecting on the root cause of the move higher in yields, and the increased volatility. As noted by Deutsche Bank in today’s briefing, if the rise is predicated on last week’s higher inflation print in […]

  9. Friday, June 5

    It’s been an extremely turbulent week in markets, with almost all of the attention focused on Europe in regard to the volatility in the Bund and eurodollar markets and the deadlocked negotiations between Greece and its creditors. Much of the research we’re reading seems to be a reflection of the uncertainty that this is causing […]

  10. Thursday, June 4

    Yesterday all the the focus was on Mario Draghi and what he would say to sooth the recent turmoil in European bond markets, and whether he might look to accelerate the QE program. Most analysts were surprised by his reaction.¬†Asked about the recent wave of bond repricing, Draghi mentioned three explanations: the improving growth outlook, […]