The RBNZ is the latest central bank to remove policy accommodation among G10 currencies, with the Bank of Canada having led the charge in April and likely set to taper purchases again at its meeting later today. Today we look at some hopefully uncorrelated trades for the coming months as...

Today we look at a fresh and unexpected spike back higher in the US June CPI numbers and whether this data is sufficient to shift the narrative on inflation. So far, the reaction is modest compared to the scale of the reaction. Elsewhere, we run through the theme of central...

A choppy session in the US yesterday after a surprisingly hot June CPI report roiled markets and actually inspired tech and growth stocks to new highs as US long yields initially dropped before a weak US T-bond auction reversed that development and dented confidence. Today, US Fed Chair Powell is...

The US June CPI report came in far hotter than expected at both the core and headline, setting a new high bar for the cycle. While some will point to the especially large contribution from the used cars and trucks category to the higher than expected reading, a number of...

Today features special guest, Saxo Chief Investment Officer Steen Jakobsen, as we look at the lay of the land in equity themes and notable divergences there, look at upcoming earnings reports from the major US banks this week, talk central bank sending diverging signals, particularly the ECB, and how one...

With the global pandemic and recovery efforts as the backdrop, the first six months of 2021 saw unprecedented market moves. Equity markets reached new all-time highs, while cryptocurrencies and speculative stocks stole the show. Now it is time to take stock, as we have been dedicating our efforts to inspire,...

US equities rose broadly to new record highs, while Asia also posted a reasonably positive session overnight as earnings season is set to kick off in earnest today. The first names of note reporting the major US banks and financial services companies. Elsewhere, US treasury yields edged higher ahead of...

Many view the data and the action last week as a sign that the narrative is shifting to one in which investors are second guessing the reflation narrative and whether the growth peak is in the rearview mirror. The more mundane explanation could be that we are merely seeing a...

Today we look at the strong Friday close in the US, but note that breadth in the US market is remarkably weak. Also, a look at the weakening of conviction on the reflation trade, whether the JPY is set to take the lead in the FX market from the US...

Latest Macro Dragon Reflections, checks in on the divergence in the China Tech space that seems to be getting headwinds from all parts of the globe. It highlights the short squeeze an incredible sector outperformance on Weibo $60.03, +47% YTD, in some case that relative outperformance being as high as...