GLOBAL MARKETS RESEARCH

Helping you make sense of credit, foreign exchange, interest rates and commodity markets.

LATEST MORNING CALL PODCAST & OTHER UPDATES

Tapas Strickland says under the hood the retail numbers had some positives, including more evidence of the rotation from goods to services.

The FOMC meeting is tonight and markets are being cautious, with little movement in bonds or equities. A weaker than expected set of retail sales numbers has added to the uncertainty.

Now that the other side of the pandemic is emerging, clients are starting to ask how high rates will go when central banks start to normalise policy.

ALL UPDATES

The FOMC meeting is tonight and markets are being cautious, with little movement in bonds or equities. A weaker than expected set of retail sales numbers has added to the uncertainty.

US CPI was a higher than expected but the Market seems to have taken it largely in its stride.

Bond yields have fallen further overnight, in some cases to levels not seen for several months.

Bond yields are pushing lower and market volatility is easing.

If non-farm payrolls gave markets a Goldilocks moment on Friday then maybe markets are already starting to question whether it was exactly what was needed.

Now that the other side of the pandemic is emerging, clients are starting to ask how high rates will go when central banks start to normalise policy.

Not too good, not too bad, that seems to have been the market response to the non-farm payrolls numbers out of the US on Friday.

There was speculation that the Fed would taper sooner rather than later.

May was the lowest volatility month so far in 2021.

If there’s one takeout from the Fed’s Beige Book overnight, aside from the continued improvement in the US recovery, it was the rising concern about input costs.

Our new podcast series to help small to medium sized businesses make sense of current FX market movements

The RBA didn’t steer from its earlier stance that it was too soon to be looking at any changes in policy right now.

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