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Daily Reports

Central bank capitulation?

Next 24 hours: UK government moves in question

Today’s report: Central bank capitulation?

Broadly speaking, Wednesday was a turnaround day for financial markets. We saw a round of profit taking on US Dollar longs and renewed demand for US equities. A lot of the attention however was focused on developments out of the UK, where the BOE joined the ranks of the BOJ and ECB in printing money to defend the local bond market.   read report

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Wake-up call

No relief into mid-week

Special report: Have we reached maximum pessimism in the Pound?

Today’s report: No relief into mid-week

There has been no relief for financial markets this week, with the US Dollar rally only intensifying and the sell-off in stocks only getting that much uglier. We had seen some attempts at a turnaround on Tuesday, though this proved to be nothing more than a tease.   read report

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Wake-up call

Investors unsettled by that dot plot

Special report: BOE policy decision preview

Today’s report: Investors unsettled by that dot plot

The market was dealt another blow on Wednesday, in large part because of yet another hawkish decision. There wasn’t anything all that surprising, but it seems investors continue to be unsettled by a dot plot that keeps on pointing to higher rates looking out.   read report

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Wake-up call

The Buck doesn’t stop here

Special report: FOMC decision preview

Today’s report: The Buck doesn't stop here

It seems the market has become even more unsettled in recent sessions, this on the realization that higher rates outside of the US are doing nothing to offset what has been a surge into US Dollars on what is still a yield differential that favors the Buck and on what is sure to also be flight to safety into the Dollar.   read report

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Wake-up call

Next 24 hours: Euro can't do anything with rocketing German producer prices

Today’s report: Get ready for a heavy round of central bank meetings

The market has ratcheted up hawkish Federal Reserve rate hike bets, pricing peak Fed Funds at 4.5%, which is 120 basis points higher than where we were in July.   read report

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Wake-up call

Investor friendly policy no more

Next 24 hours: Subdued conditions but also more of the same

Today’s report: Investor friendly policy no more

The pace of appreciation in the US Dollar has most certainly been turning heads around the globe. The Buck continues to run hot and at multi-year highs against many currencies on account of a severe monetary policy divergence between the Fed and other central banks, and on account of what looks to be a better economic outlook in the US.   read report

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Wake-up call

Today’s report: More justification for higher rates in the US

Thursday’s round of solid US economic data only makes things more challenging for financial markets as it further justifies the need for rates to be moving higher. Remember, earlier this week, US CPI came in hotter than forecast, which had fueled this latest fallout in risk assets.   read report

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Wake-up call

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