Markets Friday’s dip buyers were rewarded by yesterday’s buoyant market conditions, especially in the US. The EuroStoxx50 was still in doubt (+0.25%), but main US indices gained 1.55% (S&P) to 2.7% (Nasdaq). If they manage to take out last week’s high, it would help put to bed fears of a developing sell-on-upticks market. The jury…
Markets Natural gas prices showed some of the larger daily moves today. They dropped below €30/MWh (Dutch TTF) for the first time since May 2024. Prices have been slowly grinding lower over the last couple of months on a combination of amongst others strong LNG imports and mild weather so far. But the trigger for…
Markets The European Commission published its Autumn Economic Forecast today. They project real GDP growth of 1.3%-1.2%-1.4% in the euro area. Economic growth exceeded the Commission’s Spring forecast (0.9%-1.4%-1.4%) in the first nine months of the year thanks to a surge in exports ahead of anticipated tariff increases and a stronger performance of investment in…
It was a week dominated by politics — both domestic and international — as shifting power dynamics and fresh policy risks rippled through global markets. In Japan, optimism surged after Sanae Takaichi’s victory in the ruling LDP leadership race, clearing the way for her to become the country’s first female prime minister. Investors welcomed her…
Markets Most markets were mired in technical trading today. Core bonds, at least up until now, are taking a breather after soft US labour market data that last week supported bets for accelerated Fed easing and a further easing of (global) financial conditions. Markets usually take a forward looking approach, mostly ignoring statistical data revisions….
Markets Markets started slow but after all constructive to the new trading week, with bonds and equities closing in green. Upcoming event risk (French confidence vote a.o.) for now didn’t spoil the game. US interest rate markets facilitated a further easing of global financing conditions, with today’s BLS benchmark revision for the US payrolls a…
Markets The three biggest Euro area economies released July inflation numbers today. French prices rose 0.3% m/m to be up a June-matching 0.9% on a yearly basis as energy was still heavily weighing on inflation. Italian inflation meanwhile dropped 1% on a monthly basis with the year-on-year print easing from 1.8% to 1.7%. Both countries…
Markets And it’s a deal. The US and European Union struck a trade agreement yesterday, concluding months of back and forth negotiations. Both parties agreed an across-the-board 15% US import levy, covering all goods. That includes cars (which are currently struck by a 27.5% tariff) and according to EC president von der Leyen and senior…
Investor sentiment turned decisively upbeat last week, with global equities rallying on the back of a landmark trade agreement between the US and Japan. The deal was welcomed by markets as a major breakthrough just days ahead of the August 1 tariff deadline. Japan’s Nikkei surged past 42k mark, with momentum now suggesting a breakout…
US dollar The US has signed agreements with Japan, Indonesia and the Philippines. Tariffs range from 15% to 19%. Tokyo has secured a reduction in import duties on cars from Washington from 25% to 15%. Looking at this deal, the European Union also wants to get 15% tariffs. Brussels does not intend to activate the…