Rates: Flight to safety
One possibility is that the Fed under-delivers on market rate cut expectations. This could force long rates lower as the disappointment on the extent of…
FX: Is this the big turn in the dollar?
The drop in US interest rates has undermined the dollar. If this is the start of the long-awaited dollar decline, we expect it will be USD/JPY that leads…
Japan: Not as good as it looks
With the Fed looking more dovish, the Bank of Japan will be looking anxiously at the USD/JPY rate and wishing it had some effective tools left in its…
Just when it seemed that the eurozone economy was starting to improve, the escalation of the trade war between the US and China soured the mood once more.…
We think the authorities will increase fiscal stimulus, as well as cut interest rates and the reserve requirement ratio (RRR) to support growth, in what…
