UK 10-year government bond yield fell by 12.8 bps on Wednesday, leading the rally in global long-dated sovereign bonds. The proximate cause of the decline in long-dated Gilt yields is the release of the UK budget which revealed…
The Bank of Canada delivered a hawkish surprise on Wednesday. It announced the end of its quantitative easing program. Instead it is shifting to the reinvestment phase whereby it will only purchase bonds to replace maturing ones…
Highlights Democrats are backing off from corporate tax hikes, a positive surprise for the earnings outlook. However, the reconciliation bill will be even more stimulating than expected at a time when the output gap is closed. Short-…
The Brazilian real has been among the worst performing EM currencies over the past few months, second only to the Turkish lira. Similarly, Brazilian equities peaked in mid-June and have been on a downtrend since. The latest…
Political and geopolitical forces are joining domestic economic policy in damaging the outlook for the Turkish lira. On Saturday, President Recep Tayyip Erdogan risked inflaming tensions with the West by ordering that 10…
At a CNN town hall on Thursday President Biden stated that the US is committed to defending Taiwan[1] if China tried to attack it. The White House later clarified that there was no change in US policy towards Taiwan. Although the…
Canadian CPI inflation came in at 4.4% year-over-year for September, blowing through analyst expectations and hitting an 18-year high. Meanwhile, the CPI-trim, a core measure which strips out extreme price movements, hit 3.4…
Earlier this month, French President Emmanuel Macron unveiled a EUR30 billion investment plan aimed at supporting and fostering industrial and tech “champions of the future.” This new plan comes on top of the EUR100 billion…