EZU

Is The Dramatic Yen Short Squeeze Over?

Asia Ex-Japana And European Markets Advance; Gold Gains - Global Markets Today While US Slept

U.S. Stock markets closed mixed on Thursday, with the S&P 500 and Nasdaq Composite falling. Dow Jones Industrial Average rose on stronger-than-expected GDP data. Japan's Nikkei 225 closed lower by 0.64% on Friday. The economy grew by 2.8% in Q2, beating estimates of 2%.

Rates Spark: Euro Rates Eyeing Quicker ECB Cuts

Country Risk: My 2024 Data Update

Richard Drury updated his most recent update of country risk for July 2024. He looks at political structure, exposure to war/violence, corruption, and protections for property rights. He argues that a trade-off between democracy and autocracy is more risky for investors. He says a democratic country is more likely to be stable and predictable.

Yen's Surge Continues, While PBOC Surprises With Another Rate Cut, And U.S. 2-30 Year Yield Curve Ends Inversion

Yen's Surge Continues, While PBOC Surprises With Another Rate Cut, And U.S. 2-30 Year Yield Curve Ends Inversion. The powerful short-covering rally of the yen and unwinding of carry trades continues. For the second time this week, the PBOC has surprised by cutting interest rates. The US 2-10-year yield curve is the least inverted in two years.

Rates Spark: Weak PMIs Help Build The Case For Rate Cuts

Weaker eurozone PMIs have helped markets price in two more ECB rate cuts for 2024. US manufacturing PMI slipped back below 50 and new home sales weakened, but services PMI edged higher. We continue to view the environment as prone to more risk-off, higher volatility and lower market rates.

Flash PMI Signals Stalling Of Eurozone Economy

July PMIs Point To A Very Sluggish Eurozone Recovery