The big improvement in the consumption deflator should have given the Treasury market ample reason to stage a big rally into this week’s Fed meeting. But Treasury yields are proving…
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Rapid rate hikes, globally, are failing to introduce enough slack into labour markets to reassure policymakers. There is a big ‘risk’ that the US jobless rate will remain below the…
China moved early to identify renewable-energy technologies as strategically important, offering years of generous subsidies. Costs for the manufacture of wind turbines and solar panels continue to tumble in China….
Exemplary disinflation has become the dominant narrative, after a string of ‘positive’ CPI reports in the US. But all eyes should be on industrial metals, which are signalling that the…
The Chief Economist of the BoE was right to highlight the “unique combination of challenges facing the UK economy” in a recent speech given on January 9th. According to Huw…
We would suggest remaining long yen against the dollar, supported by a widening underlying Japanese current account surplus. JPY/GBP could be an even better trade, given the Labour strife in…
US Treasuries have rallied since Friday’s payrolls report and the weak services ISM. But markets are paying a lot more attention to Japan now. Another rise in the Tokyo CPI…
