Did they or didn’t they? Of all the possible geopolitical situations that are simmering right now, you wouldn’t have imagined RUSSIA FIRED WARNING SHOTS NEAR BRITISH SHIP IN BLACK SEA to be the headline to pop up but that was what we got just before lunchtime. Swiftly denied by the MoD who said they “did […]
Well #cryptocrash is trending on Twitter but so are #grealish and #sancho so lets make this quick so that we can focus on the important matters. All eyes on Bitcoin today as the crucial $30,000 support gave way briefly and cryptocurrencies saw a wave of selling. That only puts XBT back to where it was […]
A Monday chock full of tussles. It’s hard to know where to look. The fight between No 10 and No 11 (the Chancellor said to be losing patience at BoJo’s lofty ambitions being announced without feeling the need to figure out how we’re going to pay for them). The emotional rollercoaster that is the US […]
Annnnd breath. Quite the day that as the second largest single stock options expiry in history (only Jan 2021 bigger) and an index rebalancing collided with the reverberations of a Fed meeting that people are still unpicking to see us finish a busy week in a bit of a frenzy. In Europe we finally had […]
Well that’s woken us up a bit hasn’t it. Fed Chairman Powell had been told this was the most important meeting of his career and he duly put his game face on and delivered a much bigger message than most had been expecting. You’ll have had plenty of commentary already on what was said so […]
Another one of those days where a glance at the market (Stoxx 600 +0.11% for its 8th up day in a row and its 18th day with a move of no more than +/- 75 bps) would suggest there was not a great deal going on but scratch a little deeper and you find all […]
I know we’re not allowed to complain about the heat. I know we spent May moaning about how it rained constantly. But boy it’s warm. I kept on going to open the window and realizing it was open already. No better advert for an air conditioned office than today. I actually might go and sleep […]
Only in Britain. Only in Britain would you get the local bakery of the town that is hosting the G7 world summit creating one-off Cornish pasties with names including Merkel’s Minted Lamb, Macrons Minced Veg, Boris’ Stilton and – inside info maybe? – Biden’s Big-Un. All eyes on Carbis Bay in England then and after […]
So that’s as clear as mud then. Something for everyone in today’s US CPI and ECB decision and presentation. If you’re in the “we’re about to overheat and there’s a taper tantrum coming” camp you’d point to the CPI number coming at 5.0% YoY (ests 4.7%) with the MoM also a shade ahead. You’d point […]
“Is that the inflation scare over then?” asked one of our analysts somewhat tongue-in-cheek in a chat today. We’ll know more this time tomorrow but the last 24 hours have certainly seen a shift back towards our macro teams unswerving view that any inflation will be must not say transitory, people are bored of hearing […]