We are left with a market pricing that mostly considers 50bp cuts a feasible scenario in the Eurozone, but the ECB is not a 50bp central bank, especially not if its peers aren’t moving that fast.
Something for your Espresso: Punching in thin air!
Markets have been choppy with the Americans away from their desks due to Juneteenth. Are commodity bulls punching in thin air ahead of July? Meanwhile, we have a big day ahead in central banking.
To read the full article, sign up for a 14-day FREE trial of the Professional plan.
Already a member? Login here
Steno Signals #103: A blood-bath in metals in July!?
There is a material cluster risk in metals ahead of July deliveries and the consensus remains alarmingly upbeat in Gold, Silver and Copper. Here is why it could turn into a July bloodbath in metals.
To read the full article, sign up for a 14-day FREE trial of the The Macro Connoisseur, Professional or Crypto plan.
Already a member? Login here
Energy Cable: OPEC needs a big rebound on the demand side
The OPEC group continues to keep the supply of oil artificially low, but the big question is now the demand side of the equation. This OPEC policy is bullish, if the demand side keeps improving.
To read the full article, sign up for a 14-day FREE trial of the Professional plan.
Already a member? Login here
Something for your Espresso: Softness now also feeds reflation
Given the current feedback loop, softness feeds through to increasing reflation expectations, which is an interesting dynamic that will continue until it’s broken by an exogenous event.
To read the full article, sign up for a 14-day FREE trial of the Professional plan.
Already a member? Login here