Market movement today There are no market movers on the calendar today. This week we’ll focus on US data releases with the planned November jobs report, ISM services and the University of Michigan survey. We expect further cooling in non-farm payrolls on Friday to +140k and expect average hourly earnings to grow steadily at 0.2%. … Read more
PMI survey prints will be released on Thursday amid a volatile political environment Wednesday’s autumn statement is key as another government crisis could soon unfold The pound does not enjoy heightened domestic risks, especially as the BoE remains dovish Inflation is falling, but so is growth Bank of England Governor Bailey got his wish in … Read more
The previous week marked a significant shift in market sentiment regarding expectations of a Federal Reserve (Fed) rate hike. The latest Consumer Price Index (CPI) update revealed a slower-than-expected inflation rate in the US, along with politicians fending off a government shutdown. Despite these factors, the US 2-year yield tested 4.80% for a fourth time, … Read more
markets Until about a month ago, the market dynamics of earnings moved “standardly” higher on days when there were no relevant news for the market. A series of softer (or perceived soft) data has since caused the market to turn 180 degrees. The central bankers’ mantra of “higher for longer” has been shelved. The key … Read more
markets Curve inversion/overcoming the long end was the name of the game in the major bond markets yesterday. US yields advanced between 1.4bps (2y) and 11bps (30y). The US 10-year yield closed near the key 4.50% benchmark. German returns showed a similar picture. The 2-year still gained 3.1 bps, but the 30-year fell 8.1 bps. … Read more
markets Curve inversion/overcoming the long end was the name of the game in the major bond markets yesterday. US yields advanced between 1.4bps (2y) and 11bps (30y). The US 10-year yield closed near the key 4.50% benchmark. German returns showed a similar picture. The 2-year still gained 3.1 bps, but the 30-year fell 8.1 bps. … Read more