FICC
One macro framework for rates, FX, credit, and commodities, helping investors connect cross-market signals and position with clarity and conviction.
In this Strategy Insight, we go over the RBA’s recent decision and the implications of its hawkish message for AUD trades.
In this Strategy Insight, we go over the RBA’s recent decision and the implications of its hawkish message for AUD trades.
This week, we articulate what the actions of the three major central banks that met (Fed, ECB and BoE) mean for currency markets. This is within the context of our analysis of the latest data releases in the G10, that allows us to calibrate currency strategy.
Financial markets were taken on a wild ride between Wednesday and Friday of this week, with hugely important monetary policy meetings in the US, euro area and UK along with a rash of economic data. Despite all the news, noise and market volatility, the underlying message for monetary policy and bond yields in the US, euro area and UK is unchanged.
This US Bond Strategy Insight discusses what we learned from yesterday’s FOMC meeting and press conference, and discusses the implications of the market’s reaction.
The growing threat of fiscal dominance; lower real interest rates; a weaker USD; increasing aggregate demand in Asia spurred by Chinese stimulus; safe-have demand driven by growing war risk all are bullish for gold. We are lifting our price target to $2,000/oz by year-end (from $1,900/oz) and upgrading our recommendation to a strategic holding.