Dalvir Mandara
It has been a volatile week for crypto markets following back-to-back SEC litigations against Binance and Coinbase – two of the largest cryptocurrency exchanges in the world by trading volume.
Bilal Hafeez
Alberto Gallo is Chief Investment Officer and Co-founder at Andromeda Capital Management. Prior to that, Alberto initiated and ran the Global Credit Opportunities fund at Algebris Investments.
John Tierney
Q2 earnings have been solid, with S&P companies beating projections by an average of 7%. Most of this was due to low expectations. What matters more is outlooks.
Bilal Hafeez and Viresh Kanabar
We stay overweight cash and TIPS while maintaining our underweight allocation to equities, long-duration bonds, property, and private equity.
Dominique Dwor-Frecaut
Since the April FOMC, there has been no progress on disinflation and no evidence of a macro impact of a credit crunch, yet the Federal Reserve (Fed) has decided to stay on hold next week.
Bilal Hafeez and Ben Ford
Global departures have recovered their strong upwards trend as half-term holidays commenced (Chart 1). Departures sit 5% above 2019 levels.
John Tierney
Investment grade and high yield corporate bond spreads are trading in a narrow range, in line with equity volatility.
Macro Hive
Macro Hive Founder and Head of Research Bilal Hafeez joined Aljazeera TV on June 3rd 2023 to discuss the US debt ceiling deal. Bilal Hafeez discusses his view on the agreed bill to suspend the $31.4 trillion debt limit, after a tough political battle. But, neither Republicans nor Democrats got all they wanted.
John Tierney
Nvidia’s stock (NVDA) jumped by a third after its CEO forecast quarterly revenue will jump from $7bn last quarter to $11bn next quarter.
Dalvir Mandara and Bilal Hafeez
May nonfarm payrolls (NFP) supported both hawks and doves. The May NFP release (339,000 vs 195,000 expected) showed a combination of high employment growth, low unemployment, and no nominal wage acceleration.
Bilal Hafeez and Viresh Kanabar
Euro area inflation surprised to the downside last Thursday (1 June). The flash estimate for CPI came in at 6.1% YoY versus 6.3% expected, with core also surprising to the downside at 5.3% versus 5.5% expected. In response, yields across the eurozone dropped, with German 2Y Schatz falling by almost 14bps on the week (Chart 3).
John Tierney
For all the hot air it generated, markets were correct to simply ignore the ongoing drama around the debt ceiling and outlook for Federal Reserve (Fed) policy.
Dominique Dwor-Frecaut
Once again, the NFP release showed a combination of high employment growth, low unemployment, and no nominal wage acceleration.
Macro Hive
Welcome to the Week Ahead! In this episode, Andrewand Dominique reflect on the US debt ceiling deal. What's next for the markets and what are the Fed's plans for the market now? Should investors be looking at market liquidity more closely and what's on for the week ahead!
Dalvir Mandara
Crypto markets have trickled higher over the past week with markets failing to price a June FOMC hike despite a debt ceiling resolution and monstrous NFP outturn.
Bilal Hafeez
Deepak Gurnani is the Founder and Managing Partner of Versor Investments - $2bn quantitative investment firm. Deepak is the former CIO of Investcorp’s Hedge Fund Group and was one of the founding members in 1996.
Dominique Dwor-Frecaut
The US Treasury plans to increase the Treasury General Account (TGA) by $500bn over the next four weeks, which would cause large money market volatility and is therefore likely to be revised down.
Richard Jones
UK economic data, most notably inflation and employment readings, have soured recently.
John Tierney
Last week was supposed to be about the debt ceiling drama, but Nvidia (NVDA) stole the stage with its earnings and aggressive demand outlook.
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