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Stocks Hit as Central Banks Brandish Anti-Inflation Efforts

June 30, 2022
Overview: Central banks are committed to combatting inflation even as the economies weaken. This is taking a toll on investor sentiment and is dragging down equities. Outside of China, where the PMI confirms a recovery, and India, where most large bourses in the region were off 1-2%. Europe’s Stoxx 600 snapped a three-day rally yesterday with a 0.…
Stocks Hit as Central Banks Brandish Anti-Inflation Efforts Stocks Hit as Central Banks Brandish Anti-Inflation Efforts Reviewed by Marc Chandler on June 30, 2022 Rating: 5
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Spanish Inflation Shocks

June 29, 2022
Overview: The sharp sell-off in US equities yesterday, led by tech, is weighing on today’s activity. Most of the large Asia Pacific markets excluding Japan and India lost more than 1% today. The three-day rally in Europe’s Stoxx 600 is being snapped today. US futures are posting small losses. The US 10-year yield is little changed around 3.17%, wh…
Spanish Inflation Shocks Spanish Inflation Shocks Reviewed by Marc Chandler on June 29, 2022 Rating: 5
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No Turn Around Tuesday

June 28, 2022
Overview: The global capital markets are calm today. Most of the large bourses in the Asia Pacific extended yesterday’s gain. Europe’s Stoxx 600 is advancing for the third consecutive session and is near two-and-a-half week highs. US futures are around 0.5% higher. Benchmark 10-year yields are rising, with German and French rates 9-10 bp higher. P…
No Turn Around Tuesday No Turn Around Tuesday Reviewed by Marc Chandler on June 28, 2022 Rating: 5
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Consolidation in FX Featured

June 27, 2022
Overview: The strong equity market rally seen at the end of last week is carrying into today’s activity. Most of the large markets in Asia Pacific rose by at least 1%. After a 2.6% rally before the weekend, Europe’s Stoxx 600 is up around 0.8%. US futures are around 0.5% after a soft opening. Benchmark 10-year yields jumped 7-11 bp in Europe and p…
Consolidation in FX Featured Consolidation in FX Featured Reviewed by Marc Chandler on June 27, 2022 Rating: 5
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The Dollar: Don't Get too Far Ahead of the Story

June 26, 2022
The most important development in foreign exchange probably took place in the interest rate market last week. A series of disappointing US economic data and the Fed's "unconditional" commitment to rein in inflation have heightened concerns that economic weakness will limit the Fed's ability to hike rates. Specifically, for the fi…
The Dollar: Don't Get too Far Ahead of the Story The Dollar: Don't Get too Far Ahead of the Story Reviewed by Marc Chandler on June 26, 2022 Rating: 5
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The End Game Approaches

June 25, 2022
The pendulum of market sentiment swings dramatically.  It has swung from nearly everyone and their sister complaining that the Federal Reserve was lagging behind the surge in prices to fear of a recession.  On June 15, at the conclusion of the last FOMC meeting, the swaps market priced in a 4.60% terminal Fed funds rate.  That seemed like a stretc…
The End Game Approaches The End Game Approaches Reviewed by Marc Chandler on June 25, 2022 Rating: 5
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Risk Appetites Improve Ahead of the Weekend

June 24, 2022
Overview: Equities are higher and bonds lower as the week's activity winds down. Asia Pacific markets rallied, paced by more than 2% gains in Hong Kong and South Korea. Japan's Nikkei rallied more than 1%, as did China's CSI 300. Most of the large markets but South Korea and Taiwan advanced this week, though only China and Hong Kong ar…
Risk Appetites Improve Ahead of the Weekend Risk Appetites Improve Ahead of the Weekend Reviewed by Marc Chandler on June 24, 2022 Rating: 5
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