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May 13, 2024
Asia Open - Overnight Highlights
May 13, 2024 12:00 AM UTC
EMERGING ASIA
EM currencies perform individually against the USD as the greenback reversed earlier losses on more hawkish market sentiment. THB saw the largest gains of 0.59%, followed by KRW 0.14%, TWD 0.12%, MYR 0.03% and INR & HKD 0.01%; the biggest losers are CNH & SGD 0.16% CNY 0.1% and IDR 0.08
May 12, 2024
May 10, 2024
Preview: Due May 21 - Canada April CPI - Headline stable but BoC core rates falling
May 10, 2024 2:44 PM UTC
April CPI will be closely watched as the last CPI release before the June 5 Bank of Canada meeting. We expect the yr/yr pace to be unchanged from January at 2.9% which was also the pace in January before February saw a brief dip to 2.8%. However we expect continued steady downward progress in the Bo
U.S. May Michigan CSI - Lowest since November, inflation expectations highest since November
May 10, 2024 2:12 PM UTC
May’s preliminary Michigan CSI of 67.4 from 77.2 is the weakest since November 2023 and hints at a loss of momentum in the economy, but with higher inflation expectations, the 1-year view up significantly to 3.5% from 3.2% and the 5-10 year view up marginally to 3.1% from 3.0%.
Asset Allocation 2024: Tricky Seven Months Remaining
May 10, 2024 1:06 PM UTC
Fed easing expectations for 2025 and 2026 can shift from a terminal 4% Fed Funds rate towards 3%, as the U.S. economy slows due to lagged tightening effects. Combined with Fed easing starting in September this should mean a consistent decline in 2yr yields. However, 10yr U.S. Treasury yields wil
Canada April Employment - Trend still solid, suggesting no urgency for BoC easing
May 10, 2024 12:58 PM UTC
Canada’s 90.4k increase in April employment is well above expectations and raises doubt over the case for a June rate cut, this being the last employment report the Bank of Canada will see before its June 5 meeting. Unemployment was unchanged at 6.1% but wage growth (hourly wage fir permanent empl
Banxico Review: Hold Rates
May 10, 2024 12:44 PM UTC
Banxico's decision to maintain the policy rate at 11% reflects a cautious stance amidst rising inflation and a slowing economy. Despite external volatility, the MXN remains resilient. The main concern is services inflation being stickier. With a revised inflation forecast indicating a longer period
Benign Inflation Allows BNM to Hold Rate
May 10, 2024 9:24 AM UTC
In its latest decision, the Monetary Policy Committee (MPC) of Bank Negara Malaysia (BNM) opted to keep the overnight policy rate (OPR) steady at 3.0%, marking the seventh consecutive meeting without a change. This decision aligns with market projections and underscores BNM's commitment to support g