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The dollar finally got a big boost in September from the euro-zone’s intensifying debt crisis and gloomy news on the global economy. The Fed’s major trade-weighted dollar index rose by nearly 6%, following a gain of less than 1% in August. … Market …
5th October 2011
This report is only available as a PDF. Click to download. … Euro plunges as banking sector remains under pressure …
This report is only available as a PDF. Click to download. … US labour market probably remained very weak in September …
4th October 2011
This report is only available as a PDF. Click to download. … Does Greece’s debt exchange need to be revisited? …
1st October 2011
Given further falls in the prices of Greek government bonds (GGBs), it is little wonder some governments are reportedly seeking to renegotiate the terms of the debt exchange that was proposed for private sector creditors in July as part of Greece’s second …
30th September 2011
This report is only available as a PDF. Click to download. … Doubts creeping in over euro-zone package …
This report is only available as a PDF. Click to download. … How long will debt-laden Japan be able to avoid her own crisis? …
29th September 2011
As the euro-zone debt crisis continues to send shockwaves through the financial markets, it is ironic that the best performing of the world’s major currencies so far this year has been the yen. After all, Japan’s gross sovereign debt is larger than that …
28th September 2011
This report is only available as a PDF. Click to download. … Preparing for the inevitable? …
Two of the pillars that supported the bull market in gold have recently been knocked away, namely the fears of a surge in inflation and a collapse in the US dollar. However, others remain strong, including the outlook for monetary policy and the prospect …
27th September 2011
This report is only available as a PDF. Click to download. … US durable goods orders could be a bright spot amid the gloom …
This report is only available as a PDF. Click to download. … Operation Twist fails to inspire confidence …
24th September 2011
This report is only available as a PDF. Click to download. … The future looks brighter for US corporate bonds than equities …
23rd September 2011
US credit spreads have widened significantly since the end of July. However, corporate bonds have outperformed equities during this period – something we expect to continue over our forecast horizon given the relatively healthy state of corporate finances …
22nd September 2011
The recent sharp falls in emerging market (EM) currencies against the US dollar do not reflect fundamental shifts in exchange rate policy in these countries. Instead the main driver is renewed demand for the dollar as a safe haven from a slowdown in the …
This report is only available as a PDF. Click to download. … Is the US stock market really so overvalued? …
According to the Federal Reserve’s Flow of Funds Accounts published last Friday, the market value of the equity issued by US non-financial companies at the end of H1 2011 was almost identical to the net worth (assets minus liabilities) of such companies …
21st September 2011
This report is only available as a PDF. Click to download. … Don't look to the BRICs to rescue the euro-zone …
This report is only available as a PDF. Click to download. … Will the Fed opt for Operation Twist? …
20th September 2011
Thursday’s pledge by the European Central Bank (alongside similar commitments from the Bank of England, Bank of Japan and Swiss National Bank) that it will offer 3m US dollar funding over year-end brought some relief to markets and bank shares in …
17th September 2011
This report is only available as a PDF. Click to download. … Stress relief …
This report is only available as a PDF. Click to download. … Has gold peaked? …
16th September 2011
This report is only available as a PDF. Click to download. … We now expect 10-year Treasury yields to drop to 1.5% …
15th September 2011
We have reviewed our projections for currency, government bond and stock markets. The new market numbers are presented in the table on the next page. There are two main changes. First, we are revising our year-end forecast for the 10-year US Treasury …
14th September 2011
This report is only available as a PDF. Click to download. … Will euro-zone banking shares continue to plunge? …
This report is only available as a PDF. Click to download. … Obama and Bernanke fail to impress the markets …
13th September 2011
This report is only available as a PDF. Click to download. … Waiting for Ben... …
10th September 2011
This report is only available as a PDF. Click to download. … The Australian dollar should remain resilient …
9th September 2011
This report is only available as a PDF. Click to download. … SNB changes the rule of the game …
8th September 2011
This report is only available as a PDF. Click to download. … Euro likely to remain under pressure …
7th September 2011
This report is only available as a PDF. Click to download. … Stagnation in US payrolls an ominous sign …
6th September 2011
The 10-year US Treasury yield fell sharply again in August, driven by a further reassessment of the prospects for interest rates. The latter was probably prompted by growing signs of an economic slowdown, the realisation that fiscal stimulus is no longer …
3rd September 2011
This report is only available as a PDF. Click to download. … Will other major emerging markets follow Brazil's lead? …
This report is only available as a PDF. Click to download. … PMIs likely to reinforce fears of global slowdown …
2nd September 2011
This report is only available as a PDF. Click to download. … US Treasuries should be supported by the prospects for inflation …
1st September 2011
This report is only available as a PDF. Click to download. … Bernanke fails to send any new signals on monetary policy …
30th August 2011
This report is only available as a PDF. Click to download. … Bernanke unlikely to pave the way for QE3 …
27th August 2011
This report is only available as a PDF. Click to download. … A change of tack on the yen? …
26th August 2011
This report is only available as a PDF. Click to download. … Would QE3 rekindle risk appetite? …
25th August 2011
On Friday, Ben Bernanke will discuss the prospects for the US economy at the Federal Reserve Bank of Kansas City’s annual economic symposium in Jackson Hole. The Fed Chairman used the 2010 symposium to hint at the launch of a second round of quantitative …
24th August 2011
This report is only available as a PDF. Click to download. … What next for oil prices? …
This report is only available as a PDF. Click to download. … All eyes on Fed's Bernanke at Jackson Hole …
23rd August 2011
The yield on US Treasury Inflation Protected Securities (TIPS) is close to zero for bonds maturing in ten years’ time and negative for those with a shorter remaining life. This presumably reflects a belief that Fed policymakers will continue to lean with …
20th August 2011
This report is only available as a PDF. Click to download. … US economic data prompt fresh market turbulence …
This report is only available as a PDF. Click to download. … Are Bunds immune from rising sovereign credit risk? …
19th August 2011
The cost of insuring against a default by the German government for five years has nearly doubled since early July and now exceeds the cost of insuring against a default by the UK government for the first time since the financial crisis. So far, this …
18th August 2011
This report is only available as a PDF. Click to download. … What more can policymakers do? …
This report is only available as a PDF. Click to download. … ECB's bang for its euro may not last …
17th August 2011
This report is only available as a PDF. Click to download. … This week's US data may not calm investors' nerves …
16th August 2011
… New forecasts for emerging market equities and bonds …
13th August 2011
