Biggest bond selloff since taper tantrum

Jul 14, 2015 00:34 am UTC| Commentary

Rightly or wrongly, fixed income investors have been heading for the hills lately. As a result, global rates, especially the long-end of the yield curves, have backed up sharply. Indeed, the rates sell-off has been so...

China to cap global rates

Jul 14, 2015 00:22 am UTC| Commentary

The Chinese stock market has lost more than 20% of its value over the past three weeks. The correction would have been deeper, if it werent for the draconian and unprecedented emergency measures introduced by Beijing (eg,...

Volatile But Mostly Positive Week for Equities

Jul 13, 2015 23:50 pm UTC| Commentary

News out of Greece continued to dominate market sentiment, resulting in a volatile but mostly positive week for equities. The CBOE Volatility Index spiked to its highest levels since January before pulling back,while yield...

EUR underperforms despite Greek deal

Jul 13, 2015 21:55 pm UTC| Commentary

There wasnt much new for markets to digest overnight since the Greek agreement late yesterday. Most markets continued trading with a risk-on tone, with equities decently higher (SP +1.1%, DAX +1.5%), and most key bonds...

US federal government posts budget surplus of $51.8bn in June

Jul 13, 2015 20:20 pm UTC| Commentary

The US federal government reported a monthly budget surplus of $51.8bn for June, in line with CBO analysis and consensus expectations. Receipts were up 6.0% y/y for the month, while spending grew 15% y/y. The monthly...

Bank of Canada preview: On hold with an ease at hand

Jul 13, 2015 17:54 pm UTC| Commentary

It is expected Bank of Canada will hold rates at 0.75%, but take a dovish stance, leaving the door open to an ease later this year. Rates are roughly fairly priced going into the BOC meeting, but we continue to like curve...

Accelerating inflation a double-edged sword in the Czech Republic

Jul 13, 2015 17:10 pm UTC| Commentary

The Czech economy has recently seen solid expansion and a bottoming out of inflation. This has been accompanied by appreciation of the crown to close to the EUR/CZK 27 floor set by the Czech National Bank. We expect the...