Pricing disconnect persists – BNY

Pricing disconnect persists – BNY

BNY Strategist Geoff Yu argues that European rate markets still discount too many hikes for the European Central Bank (ECB), Bank of England (BoE) and Swiss National Bank (SNB) despite an improvement in global risk sentiment following the U.S.–Iran ceasefire. He highlights that current futures pricing remains well above levels at the start of the […]

US GDP expands at annual rate of 0.5% in Q4 vs 0.7% expected

US GDP expands at annual rate of 0.5% in Q4 vs 0.7% expected

The United States’ (US) real Gross Domestic Product (GDP) expanded at an annual rate of 0.5% in the fourth quarter, the US Bureau of Economic Analysis’ third estimate showed on Thursday. This print followed the 0.7% growth announced in the previous estimate and came in below the market expectation of 0.7%. “Real GDP was revised […]

Preferred G10 relief trade on de-escalation – OCBC

Preferred G10 relief trade on de-escalation – OCBC

OCBC strategists Sim Moh Siong and Christopher Wong highlights Australian Dollar (AUD) as the preferred G10 expression of de-escalation and pro-growth after the US-Iran ceasefire. They note that high-beta energy importers like Swedish Krona (SEK) and New Zealand Dollar (NZD) led the snapback, but AUD stands out as a pro-cyclical currency relatively resilient to energy […]