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Bank of England Steps in to Buy Inflation-Linked Bonds for the First Time

October 11, 2022
Overview:  The dollar continues to ride high. It reached its highest level against the yen since the recent intervention. The Canadian dollar has fallen to its lowest level in two-and-a-half years and the New Zealand dollar is approaching the 2020 extreme. The greenback is firmer against all the major currencies but the Swiss franc, and against ne…
Bank of England Steps in to Buy Inflation-Linked Bonds for the First Time Bank of England Steps in to Buy Inflation-Linked Bonds for the First Time Reviewed by Marc Chandler on October 11, 2022 Rating: 5
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The Yen and Yuan Continue to Weaken

September 07, 2022
Overview: While the US dollar appears to be consolidating its recent gains, the Japanese yen and Chinese yuan remain under pressure. Officials seem more concerned about the pace of the move than the level it has reached. New and large fiscal initiatives that the new UK government has floated has failed to change sentiment toward sterling, which is…
The Yen and Yuan Continue to Weaken The Yen and Yuan Continue to Weaken Reviewed by Marc Chandler on September 07, 2022 Rating: 5
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What Happened Monday

September 05, 2022
The US and Canada may have been on holiday on September 5, but the world waits for no one and there were several significant developments. First, Gazprom's decision to indefinitely suspend gas shipments through the Nord Stream 1 pipeline announced before the weekend saw the European natgas benchmark soar 23.7. Recall that in the week ending Se…
What Happened Monday What Happened Monday Reviewed by Marc Chandler on September 05, 2022 Rating: 5
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Euro Parity Holds ahead of US CPI

July 13, 2022
Overview: The US dollar is consolidating with a slight downside bias ahead of the June CPI report. The euro held above $1.00 but is still pinned in the trough. The rate hike by the Reserve Bank of New Zealand failed to have much impact. On the other hand, the JP Morgan Emerging Market Currency Index is lower for the fourth consecutive session. Mos…
Euro Parity Holds ahead of US CPI Euro Parity Holds ahead of US CPI Reviewed by Marc Chandler on July 13, 2022 Rating: 5
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The Greenback Bounces Back

June 08, 2022
Overview: After modest US equity gains yesterday, the weaker yen and Beijing’s approval of 60 new video games helped lift most of the large markets in the Asia Pacific region. South Korea and India were notable exceptions. Europe's Stoxx 600 is off for the second day as Monday's 0.9% advance continues to be pared. US futures are trading lo…
The Greenback Bounces Back The Greenback Bounces Back Reviewed by Marc Chandler on June 08, 2022 Rating: 5
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Macro and Prices

April 30, 2022
We offer our weekly macro and technical commentary below ahead of tomorrow's publication of Bannockburn's May monthly outlook.   The week ahead is packed with several central bank meetings and important high-frequency economic data.  The week begins off with China's April PMI over the weekend.  The world's second-largest economy is…
Macro and Prices Macro and Prices Reviewed by Marc Chandler on April 30, 2022 Rating: 5
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Calmer Markets: Hope Springs Eternal

March 29, 2022
Overview:  Interest rates continue to rise, but equities are looking through it today and the dollar is drawing less succor.  Asia Pacific equities were mostly higher.  With half of Shanghai in lockdown, Chinese equities were unable to join the regional advance.  Europe's Stoxx 600, led by energy and consumer discretionary sectors, is rising f…
Calmer Markets: Hope Springs Eternal Calmer Markets: Hope Springs Eternal Reviewed by Marc Chandler on March 29, 2022 Rating: 5
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When Maximum Fed Flexibility is Hawkish

January 27, 2022
Overview:  If equities had appeared to drive the other capital markets recently, the debt market took the bull whip yesterday.  The surge in US rates saw equities reverse lower and the dollar rally.  The MSCI Asia Pacific Index was sold to its lowest level since late 2020, led by more than 3% losses in the Nikkei and Kospi.  Foreign investors have…
When Maximum Fed Flexibility is Hawkish When Maximum Fed Flexibility is Hawkish Reviewed by Marc Chandler on January 27, 2022 Rating: 5
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