Today, bond markets are being bought Headers: Villeroy of the ECB has declared that rates will be pushed higher in the future Bond markets are being bought today Domestic flights are being grounded by a malfunctioning IT bond markets are being bought today Domestic flights are being grounded by a.
China’s yuan not far from a 4 month high – policy support, COVID recovery, seasonal demand China to pause costly chip investments as Covid strains budget PBOC Guangzhou branch reportedly guides banks to provide offshore financing to developers ICYMI – China’s Finance Minister reiterated plans to appropriately expand fiscal spending.
The US dollar is sizzling today even as Treasury yields fall. It’s a reminder that intermarket correlations don’t matter on Day 1 as flow-driven trade dominates. The rally in the dollar speaks only to demand for liquidity and the world’s reserve currency — I wouldn’t take it as any kind.
Headlines: Not quite the 2022 theme this one Bavaria December CPI +9.2% vs +10.9% y/y prior Saxony December CPI +8.7% vs +9.9% y/y prior Germany December unemployment change -13k vs 15k expected UK December final manufacturing PMI 45.3 vs 44.7 prelim Switzerland December manufacturing PMI 54.1 vs 53.3 expected SNB.