25 February 2020
With the Pacific G10 Macro Rates Team
Global Macro Overview
Last week we observed continued
divergence between equity and fixed income markets. While Fixed Income markets started to price in a very benign global growth outlook due to concerns
about the spread of coronavirus, the S&P reached new highs on Wednesday and rebounded back on Thursday and Friday.
17 February 2020
With the Pacific G10 Macro Rates Team
Global Macro Overview
Interest rate markets were trading
with caution over the last week trying to navigate through the coronavirus headlines, politics and macroeconomic data.
Yield on the 10-year US Treasuries
was stuck in a narrow (less than 10bps) corridor the whole week. At the same time, equities continued grinding higher despite the uncertainty and unquestionably
lower (short- to medium-term) global growth prospects that is starting to show in the data.
10 February 2020
With the Pacific G10 Macro Rates Team
Global Macro Overview
Coronavirus related headlines
continued to dominate financial markets last week. Once again G10 interest rates paid little attention to strong fundamental data with government bonds
selling off in the first half of the week and then rallying back into the weekend.
03 February 2020
With the Pacific G10 Macro Rates Team
Global Macro Overview
Despite many countries releasing
Q4 GDP and inflation data, along with two major central bank meetings (The Fed and the Bank of England), last week’s fundamental information was largely
ignored, with the focus firmly on the outbreak of the Coronavirus and its potential impact on global growth.
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