Weekly Focus – Geopolitics Back in the Spotlight

Markets Some of the most remarkable moves ahead of the ECB policy decision were seen in JPY and UK gilts. The former outperformed global peers on increased Bank of Japan policy normalization bets. Events supporting the case succeeded each other quickly. Bloomberg yesterday reported that some government officials have moved to endorse a BoJ rate […]

Markets Several ECB policymakers hit the wires today, including Holzmann, de Guindos and heavyweight Schnabel. As a loyal hawk it was no surprise for Holzmann to caution against easing before the central bank is certain of inflation’s return to 2%. De Guindos stuck to the official guidance of a June cut without committing to anything […]

Markets US payrolls hit a home run. Literally every bit of the report was outright strong and topped estimates: from employment growth in the establishment survey over details in the household survey (used to calculate the unemployment rate) to upward revisions in previous reports. Starting with the job gains, they were a much bigger than […]