HEW: Policy Plumage Evolving
The Fed's expectations surpassed the September call, leading to a shift from a hawkish to a neutral stance on the market. This change occurred...
64 Views
Hedge in May and Go Away
A sharp rise in market rates drove down equity prices in April. The correlated move was consistent with our suggestion before Easter to hedge the...
185 Views
HEM: Molting Hawk Feathers
The front end has been sufficiently flattened due to continuous rate cuts. Despite the potential for limited cuts in the future, rate hikes are...
134 Views
EA Core Inflation Softens By Slightly Less
EA inflation unsurprisingly remained at 2.4% y-o-y in April, with a 5bps slowing taking it within 1bps of our forecast. Energy and industrial...
220 Views
HEW: Hawks Fly Into the Fed Meeting
This week's data releases have increased hawkish pressures, despite disappointing US PMI results. High inflation is impacting real demand, with...
314 Views