Treasury curve advance (-5bps) as the Trump administration increases pressure on Powell and the Fed to cut rates, leading futures to discount the 25bps cut in September, another 25bps cut in October and 50% chance of one more in December. Equities had another close...

U.S. inflation for July was mostly in line with expectations, coming in at 0.2% monthly headline and 0.3% core, while the annual was 2.7% headline (vs 2.8% exp) and 3.1% core (vs 3.0% exp), the initial reaction was a rally in the treasury curve, but slowly the longs were sold...

Wall Street refrained from making big bets ahead of a key inflation report, with stocks falling, losing steam. The dollar rose against most major currencies. With earnings season almost over, investors are turning to...

Higher rates globally ending the week, seeing a 4-7bps increase in the long end of European sovereign curves, while in the US the curve had a parallel move of 3bps. Meanwhile, US equities remain in demand, with the S&P and Nasdaq up almost 1%, again driven by...

Positive session for both Asian and European equities, while in the US "value" continues to lag as the Dow fell but the Nasdaq ended in green, boosted by Apple. In rates, the treasury curve closed flat and in Europe there were slight declines, except in the UK where there was a 2bps rise. In commodities, crude oil...

Technology continues to lead U.S. equities, with the Nasdaq up 1.2% amid talks of a Trump meeting with Putin and Zelenskiy next week. In fixed income, we saw a bear steepener in the treasury curve, with short bonds rising slightly and long bonds falling, driving the spread...

Asian equities rose along with European equities, while US equities gave back some of yesterday's gains in a day with no relevant news or data. Fixed income had no major movement either, seeing a slight bear flattener in the treasury curve, where short bonds fell (+4bps yields) and long bonds remained flat...

Positive start to the week for equities globally, with U.S. equities rebounding up to 2% after Friday's declines; in fixed income, European sovereigns were in significant demand, with yields falling 5-7bps, while U.S. long bonds fell up to 3bps...

A disappointing jobs report, and more importantly, revisions of over 260,000 jobs from the initial data between May and June led to a very aggressive rally in treasuries, marking an accentuated bull steepener in which short bonds saw yields fall by as much as 27bps and long bonds by 10bps, on the expectation of an imminent first cut in September of 25bps and now 150bps plus between...