Treasuries ended with a bull steepener, with short-term bonds rising and long-term bonds falling, bringing the 2-year/20-year spread back to 122bps and the 2-year/30-year spread to 126bps. In equities, there was a significant difference between indices, with the Dow falling 0.83% and the Nasdaq rising 0.91%, while in Europe and Asia there were increases of 0.5-1%. In commodities...

Stocks and the dollar fell after President Donald Trump threatened tariffs on several European countries ahead of high-level meetings in Davos amid a growing standoff over his ambitions to seize Greenland. Bitcoin plunged. Gold hit record highs... 

Rates rose in the US (+5bps) amid reports that Trump is reluctant to nominate Kevin Hassett, current head of the White House economic team, as the new Fed Chairman; in Europe, the movement was +2bps, and in Asia...

The Nasdaq fell 1% as AI trading weakened slightly, while the S&P 500 fell 0.5% and the Dow fell 0.1%. Global fixed income had a positive day, with yields falling 4-5bps in both the US and European sovereign markets. In commodities, crude oil closed higher for the fifth consecutive day, rising 10% in this...

The Japanese Nikkei rose 3%, remaining the best performing equity index so far this year despite the continued weakening of the yen. European indices remained largely unchanged, while in the US we saw widespread declines, with the Dow Jones underperforming and falling nearly 1%. In fixed income, rates in...

Asia led the start of the week, with both the Nikkei and Hang Seng rising more than 1%, while in Europe and the US, equity indices posted modest gains. In fixed income, Treasuries saw a slight bear steepener, with long bonds falling more, dismissing the noise brought on by the government's demand...

U.S. stocks closed at a new record high on Tuesday, continuing a streak driven by investor optimism about artificial intelligence and expectations of more flexible monetary policy from the Federal Reserve. The S&P 500 Index ended up 0.6%, surpassing the closing high reached at the end of December. The technology sector Nasdaq 100 Index rose 0.9%...

Equities rose globally after an exceptional US GDP report, with the economy growing 4.3% in the third quarter on an annualized basis vs. the expected 3.3%, while Treasuries ended with a...

One of the most illiquid weeks of the year began, with gains in Asian and American equities, while European equities saw slight declines. Treasuries and European sovereign bonds had a...