With all the chopping and changing in the macro backdrop over the past year it felt like there was a collective sigh of relief as the major data point of the day, the U.S. CPI came in with no real surprises in either direction. The fall in services inflation to below 7% for the first time since last August was encouraging but will need to fall further to be consistent with 2% inflation. Services ex rent also fell but the April CPI is unlikely to alter course of Fed policy in the near term where…

I know it may come as a surprise, but you still need sun cream in Scotland in 25mph winds and 15 degrees heat. A week in the relative wilderness on the Isle of Islay was just what I needed, though with an abundance of single malt peaty whisky and a 1 year old I can’t say I am that well rested. These markets remain a challenge and a tiring one at that, highlighted by the 6bp move in the 6 sessions I was away and today still felt like there was a bit of ‘coronation hangover’ in the markets. The S…

Aaaah – here he is. The goal hanger. The glory hunter. The Gary Lineker of sales trading. Yes we’ve an important announcement to make so I’ve eased Courteney out of the way and claimed today’s Snapshot as my own. He’s had too much fun summarising the 18 consecutive days of bumping gently sideways (Stoxx 600 +0.18%). End of the month tomorrow and this could be the first month without a +/-1% move for the Stoxx 600 since Sept 2019. A nightmare for end-of-day writers that you may remember I suffer…

Firstly it must be mentioned that it was a pleasure for us to welcome Alexandre de Rothschild, Executive Chairman of Rothschild & Co into the Redburn office today to give us some first-hand colour about the group’s long and impressive history, the family background, the aims and goals in the future and how we at Redburn fit into this. Very exciting times ahead for everyone here. Markets wise I bet there was at least some of you that will look back at the weeks when we were bereft of corporate n…

Congratulations to all those who took part in the London Marathon especially Edmund here on our sales desk! Incredible achievement and a very emotional day for so many in London. The headlines will show that records were broken for the fastest ever London Marathon by a man as Kelvin Kiptum raced around in 2:01:25 but a little further down some of the records show some quite amazing achievements. My eyes were instantly drawn to the fastest marathon wearing a suit and dress shoes (3:23:24 and I d…

Catalystless – Lacking something that precipitates an event. Those that fared better in English than myself in School will be quick to point out that it obviously isn’t a word you will find in the English dictionary but it does feel like the right word to describe the day. Monthly expiry tomorrow usually keeps things fairly level and calm but once again, even with the increased number of earnings hitting the tape, there was an eerie feel to how quiet it was with the Stoxx 600 flat once again a…

April hasn’t had a 1% move for the Stoxx 600 and today wasn’t going to trouble the scorers in that regard as we closed flat once again. Not the busiest start to a quarter especially given at this time of year how used to dealing with negative curveballs we have gotten. So 12, fairly mundane sessions and though it must be said we’ve gained +2.8% in that time. We had been flagging that seasonally April is basically the best month of the year on average and least, whilst they haven’t been big move…

Artificial Intelligence (or AI to the cool kids) is absolutely everywhere and I must admit despite my ‘Millennial’ tag I have no idea how it all works. I’m not even close to understanding it, despite some great work by the Redburn analysts but what I do know is it is taking over. As you can imagine I was slightly horrified when our excellent UMG analyst Agnieszka pointed me towards a song created by AI which appears to sound exactly like Drake and I just can’t fathom how it is possible. It is…

A weekend doing absolutely nothing was just what the doctor ordered having been taken down by a cold for the previous two weeks but the time resting feels well timed with Q1 earnings season ready to kick off. Always a manic feel to things and we’ll get the first day sense of that probably on Thursday (17co’s reporting), and a weird, strange part of me is actually quite excited. Looking ahead then as today didn’t offer up much excitement with the Stoxx 600 spending the majority of the day within…

If yesterday provided the first signs of a few small fireworks in the markets for some time, today was a damp wick, unable to get excited about anything and broadly speaking the market feels quite comfortable for the Easter interrupted weeks to be over and all things going on to be a matter of next week’s business. The streets of London still thriving on a Thursday lunch time in the sun which is nice to see but that seemed to be where the action was focussed with volumes dire once again. Yes th…