FX & Macro
Decoding currency flows and macroeconomic dynamics.
US Labor Market in Full Swing
Weekly analysis: resilience of US employment, rising inflation in the euro area, the seasonal dynamics of the yen, and the weakness of the Canadian loonie.
All Hawkish?
Weekly currency analysis: dollar strengthening, stagflationary pressures in the euro area, and massive interventions on the yen.
A Dollar Under Strain and Indecisive Central Banks
Analysis of the rise in US long-term yields, persistent inflation, and the monetary stakes between the Fed, the ECB, Japan, and the United Kingdom.
Between Inflation and Ascension
Analysis of persistent inflationary tensions against the resilience of equity markets. A study of monetary divergences between the Fed, the ECB, and the dynamics in Japan, coupled with the awakening of commodities.
Tense Climate and Equities at the Top
Persistence of geopolitical tensions, technical rebound of equity indices, and institutional repositioning on rates markets.
Truce Announced and Inflation's Resilience
Weekly debrief and forecasts. Focus on central-bank pause signals in the face of persistent inflation.
The Vise Tightens
Convergence of pressures on credit spreads, the dollar, and emerging markets. Potential inflection point.
Central-Bank Super-Cycle and Energy Shock
Analysis of the interactions between coordinated monetary policy and disruptions in energy markets.
Energy Shock and the Central Banks' Dilemma
The return of inflationary pressures via energy confines central banks within a narrow corridor.
The Warsh Pivot and the Employment Paradox
Kevin Warsh's arrival at the Fed raises questions about the rate trajectory in a context of resilient employment.
Volatility, Davos, and an Alert on Japanese Yields
The Davos forum and the return of volatility coincide with a resurgence of pressure on Japanese rates.
Institutional Shock: Trump, the Fed & Liquidity
Inauguration and first measures. Impact on global financial conditions and liquidity flows.
US Inflation & Risk-On Sentiment
Resilient CPI, risk appetite still present: analysis of the tensions between fundamental data and market sentiment.