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FX Watch: Tough times ahead for king USD?

FX Watch: Tough times ahead for king USD?

2024 has been better than feared for the USD, with hotter inflation data and better economic conditions paving the way for a stronger dollar, but what happens if the Fed cuts into sticky (or even rising) inflation?

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Portfolio Watch: Riding a Rollercoaster

Portfolio Watch: Peak Dovishness & more liquidity?

While we’ve persistently underscored the risks of intensifying conflicts in the Middle East and enduring inflation in the US, it’s evident that politics serves as the unifying factor behind both. Read how we are playing this environment below!

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EM by EM #43: Rand’s Reckoning?

EM by EM #38: Inflation returning with a vengeance?

As the US CPI is set to maintain its resilience, several sectors are contending with margin pressure due to the slower decline in costs. In the world of emerging markets, the soft landing appears to be losing steam, running on fumes. Meanwhile, finance ministers are once again in the limelight as 2024 unfolds as a pivotal election year globally

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Something for your Espresso: Another input cost SHOCKER upcoming?

Something for your Espresso: Bye bye USD?

The USD is trading weak versus especially low-yielding peers, which is consistent with a bull-steepening of the yield curve. The question is if the SNB and the BoJ will have to change plans due to stronger FX developments.

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EM by EM #43: Rand’s Reckoning?

EM by EM #34: Xi’s whip and Powell’s kneeling

After tonight’s press conference, any doubt about who is driving monetary policy should be dispelled. Powell appears to be allowing the market to dictate and is hesitant to provide significant guidance, in stark contrast to Xi and China, which seem somewhat immobilized yet hesitant to acknowledge reality

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USD CPI Review – A slightly hawkish surprise

USD CPI Review – A slightly hawkish surprise

Read the main takeaways from today’s CPI report here, which came in slightly above expectations. The details of the report are hawkish, but as per usual inflation data is up for interpretation. We stick to long USD and paid front-end USD rates here.

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EM by EM #43: Rand’s Reckoning?

EM by EM #33: Early Hikers = Early Steepeners?

Forward curves continue to trend lower in the US and Eurozone. The early adopters are leading the way, but perhaps Yellen’s spending spree will pose another challenge for her EM colleagues. We have taken a look at potential receiver/steepener cases in EM space.

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Portfolio Watch: Riding a Rollercoaster

Portfolio Watch: Celebration for the right or wrong reasons?

A softer than anticipated CPI print – spot on our forecast – lit the fuse for a rally in equities following a rally in bonds. Whether yields eased for the right reasons remains unclear. Read along as we dissect the moves, our performance and consider our allocations going forward.

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