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Daily Reports

Stacked US calendar ahead of holiday

Next 24 hours: The virus that won't go away

Today’s report: Stacked US calendar ahead of holiday

US equities continue to hold up just off record highs, though we have seen some cracks on the back of rising volatility in rates and FX markets. Now that we know Fed Chair Powell will remain at the helm, the market is getting a little more serious about pricing in some policy normalization.   read report

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Wake-up call

Market shaken up on Powell Reappointment

Next 24 hours: Policy divergence and the US Dollar

Today’s report: Market shaken up on Powell Reappointment

The reappointment of Fed Chair Powell is the big story into Tuesday. The market has since reacted accordingly, pricing in a more hawkish leaning Fed. This has resulted in more US Dollar upside and reversal in US equities.   read report

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Wake-up call

Quiet start to holiday thin week

Next 24 hours: Mixed start to the week

Today’s report: Quiet start to holiday thin week

It’s going to be a short week for financial markets, with the US heading off mid-week for the Thanksgiving holiday break. And Monday is already a quiet day on the calendar. So we’re not sure how much activity market participants should be expecting.   read report

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Wake-up call

Have you seen the Turkish Lira?

Today’s report: Have you seen the Turkish Lira?

The US equity market just isn’t worried about rising inflation. This would normally be a red flag for less investor friendly central bank policy. But we aren’t living in normal times and the way things have been, point to the market once again pressuring the Fed into keeping with easy policy.   read report

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Wake-up call

The disconnect that won’t go away

Next 24 hours: Volatility around Fed Chair speculation

Today’s report: The disconnect that won't go away

The Dollar has been running higher as US yields move up and US equities have grown a little, just a little more sensitive to the price action in bonds and FX, as they reverse course and head south on the worrying prospect of rising inflation and higher rates.   read report

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Wake-up call

The Fed’s forward misguidance

Next 24 hours: Expect thinner trade in North America

Today’s report: The Fed's forward misguidance

It’s already been a bit of a joke when assessing the quality of Fed credibility in 2021. The Fed has been doing whatever it can to dismiss risks associated with rising inflation, and it has not been successful in its attempt.   read report

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Wake-up call

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