The BoJ has buckled and shifted its YCC target in response to rising inflation. The 10-year JGB yield will be allowed to move 50 basis points either side of 0%,…
The BoE struck a dovish tone yesterday: but it will have to be more forceful to stem the steady ascent of long-duration Gilt yields in 2023. It has largely gone…
The early indications suggest China is wholly unprepared for reopening and has moved hastily to change its zero-Covid policy out of necessity. Beijing is facing its first big Covid wave…
Lumber futures are dropping back towards early 2020 levels, as the extent of the real estate downturn becomes clear. Last week, BREIT announced it was limiting redemptions, triggering a spate…
Friday’s payrolls report belies a softening trend in the labour market. The details of the report (together with forward-looking job market indicators) suggest we may have reached an inflection point….
