UK continues to report high cases
UK covid cases reported today are 10,476, which is just below yesterday's four-month high of 11,007.
Hospitalizations have risen 43% in the past week and the delta variant is dominant. We're still a long ways from the 60,000 cases per day in January but with...
The pressure on the long end continues
I tend to think this is more of a squeeze that will run into sellers at 2%.
The takeaway from Bullard today was hawkish but I'm not sure that's right. He said he wants to hike in late 2022 if inflation runs at 2.5-3.0%...
Canada to make some changes
The border restrictions are popular in Canada but beginning to frustrate the Biden administration. I think it will be a long time yet before unvaccinated Americas will be allowed into Canada.
The low in WTI crude yesterday was $69.79 but it has bounced all the way back to $72.00 including more than $1.50 in the past hour or so.
The resilience in oil has been impressive. Yesterday was the first real setback in nearly a month and I would have...
EU continues to fret about Irish border
There is a temporary deadline on the Irish border for June 30 but the UK doesn't appear to be in a rush to come into full compliance with the Brexit deal. I get the sense that Boris Johnson doesn't have any fear of...
S&P 500 futures are 26 points lower after a 2-point decline yesterday.
US stocks fell early yesterday and then swooned midday but battled back to finish unchanged. There was a large divergence with tech stock soaring on lower inflation prospects. The Nasdaq finished up 0.9% but is set to...
The dollar is keeping steadier but off the highs from earlier today
Most major currencies are going back to keeping little changed after some earlier moves which saw the likes of the and drop against the greenback.
China is trying to take on one of the biggest problems this century
Demographics is not quite a 'sexy' topic but it is one that pretty much encompasses how the world evolves and how future trends are set out to be globally.
The bond market is one to watch as yields struggle to keep higher post-FOMC
10-year Treasury yields are down by nearly 3 bps now to 1.475% with the low today touching 1.467% as yields retrace further after the surge higher on Wednesday.
Latest data released by Destatis - 18 June 2021
- PPI +7.2% vs +6.4% y/y expected
- Prior +5.2%
The beat on the readings here continue to suggest rising price pressures in general, which are largely due to supply constraints still contributing to stronger input cost inflation.
BoE meet next Thursday
The GBP hasa range of factors supporting further GBP strength and some factors that may call it into question.
Andy Haldane said that the UK housing sector was 'on fire'. In fact the UK's Nationwide house-price index has printed a 1.8% increase in May on top of...
Daily thread to exchange ideas and to share your thoughts
While Treasury yields retraced some of the moves on Wednesday, the dollar continues to look to run rampant after breaking out from rangebound trading in the past 4-5 weeks.
The 7-day incidence rate keeps at the low-end at 10.3
Meanwhile, total active cases is seen easing slightly to ~31,600 as the virus situation in Germany continues to show some improvement over the past 7-8 weeks.
Forex news for Asia trading on
Friday 18 June 2021
Cable is up a little for the
session here, not a large range, with news that the UK might be able
to exit the final part of lockdown two weeks early helping it along a
little. The report was non-committal, with plenty of...