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May 2023 Monthly

April 29, 2023
May will feature likely rate hikes by the Federal Reserve, the European Central Bank, and the Bank of England. The banking stress that erupted in March appears contained, though one regional bank's dramatic loss of deposits saw it rekindle at the end of April. What makes the May rate hikes important is that the derivatives markets are confiden…
May 2023 Monthly May 2023 Monthly Reviewed by Marc Chandler on April 29, 2023 Rating: 5
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Yen Slumps on Cautious BOJ

April 28, 2023
Overview:  The market took a dovish message away from the Bank of Japan and sent the dollar above JPY136, its best level since March 10 and spurred a sharp rally in JGBs. Japanese equities led the rally among the Asia Pacific markets. Europe has not been able to follow suit. It disappointed with Q1 GDP (0.1% rather than 0.2%). The Stoxx 600 is of …
Yen Slumps on Cautious BOJ Yen Slumps on Cautious BOJ Reviewed by Marc Chandler on April 28, 2023 Rating: 5
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Markets Becalmed Ahead of Key Data and BOJ Meeting Outcome

April 27, 2023
Overview: Some regional bank earnings were weighing on investor sentiment but reports that the FDIC is running out of patience with First Republic Bank to strike a private deal and could decide to downgrade its assessment. This could lead to limits on its ability to use the Fed's emergency facilities. Other reports said that the bank's adv…
Markets Becalmed Ahead of Key Data and BOJ Meeting Outcome Markets Becalmed Ahead of Key Data and BOJ Meeting Outcome Reviewed by Marc Chandler on April 27, 2023 Rating: 5
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Bank Stress Hobbles the Dollar, while Dissents Make the 50 bp Hike by Sweden less than Hawkish Bank Stress Hobbles the Dollar, while Dissents Make the 50 bp Hike by Sweden less than Hawkish Reviewed by Marc Chandler on April 26, 2023 Rating: 5
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Risk-Off Mood Dominates

April 25, 2023
Overview:  Perhaps it was the extent of First Republic Bank's loss of deposits that were reported with earnings yesterday, but risk appetites dried up today. Asia Pacific equities were trounced outside Japan today. Hong Kong and mainland shares that trade there set the tone today falling 1.7%-1.9%. China's CSI 300 fell for the fifth consec…
Risk-Off Mood Dominates Risk-Off Mood Dominates Reviewed by Marc Chandler on April 25, 2023 Rating: 5
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Yen: Short Overview

April 24, 2023
The yen is off about 1% this month to bring the year-to-date decline to about 2.4%. It fell by 12.2% in 2022 and 10.3% in 2021. The yen rallied against the dollar for the five preceding years. Over that five-year period the dollar fell from around JPY124 to JPY99, but it was all done in H1 16, and after a rally at the end of 2016 and very early 20…
Yen: Short Overview Yen: Short Overview Reviewed by Marc Chandler on April 24, 2023 Rating: 5
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