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Bundles

5 March 2021

Stuck in the middle with you

Inflation to the left of me! Bond yields to the right! So where exactly are we? Well, yes we're seeing higher prices. But we don't think this is a long-term worry. So, we're stuck in the middle. And that's exactly the focus of our latest Economic Update which we released on Thursday. Elsewhere, we've finally got a Libor transition date and a China growth target

In this bundle

Rates

Carsten: Why we don’t believe in this long-term inflation story

Inflation's back but we don't see it as a major long-term concern. So is the recent bond market sell-off really justified? Answers from ING's…

Report

March Economic Update: The great reflation story

Financial market participants and economists have been discussing one hot topic in recent weeks: the return of inflation. In our March economic update, we…

Rates

Rates: Escape velocity

Ben Bernanke coined the phrase "escape velocity" in 2010, essentially saying that there needed to be plenty of oomph to growth, so the…

FX: Dollar bounce underwhelms

If, at the start of the year, we had been told that US bonds would sell off 50bp at a time that Europe’s slow vaccine rollout had meant lockdown…

Asia Pacific - Held back by the lack of vaccines

Asia Pacific - Held back by the lack of vaccines

Asia may have had a better pandemic compared to the rest of the world, but it is lagging well behind in the push to roll out vaccines. With the political…

Eurozone: The underachiever

The sluggish pace of the vaccination campaign continues to jeopardise the eurozone recovery, though stronger manufacturing and construction activity are…

United Kingdom

UK: Poised for a spring recovery

Fast vaccinations and tumbling Covid-19 cases bode well for the UK's spring reopening. We expect 6% second quarter growth, but higher unemployment and…

Commodity supercycle calls grow

It has been an exceptional month for commodity markets, with growing inflation expectations increasing investor interest in the complex. Meanwhile,…

United States

Savings: the two-sided wildcard for growth

In the first lockdown, surging savings rates across the Western hemisphere were mainly the result of involuntary savings. As a result, the reopening of…

and

Commodities, Food & Agri

Energy

OPEC+ surprises the market again

OPEC+ is making a habit of surprising the market these days, with the group deciding it would keep output levels largely unchanged for April. Only Russia…

Rates

FCA finally announces Libor transition end date

The UK regulator has officially announced the date at which Libors will cease to be representative - a milestone in the transition

China

China: What a super low “above 6%” GDP growth target means?

China unexpectedly set a GDP growth target, but at a relatively low level compared to the consensus forecasts and our forecast. What does this mean for…