Commodities | Equities | Global
Markets to Watch This Week: US 2-year and the Euro
- By Bilal Hafeez
- 1 min read
US 2-year yields outperformed with a 3.5+ standard-deviation jump last week, the Norway 2-year swap performed second best. Elsewhere, EUR/USD performed worst, it fell 2.3 standard-deviations. The USD performed very well.
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In this report, we standardise price changes across different markets to allow for cross-market comparisons.
US 2-year yields outperformed with a 3.5+ standard-deviation jump last week, the Norway 2-year swap performed second best. Elsewhere, EUR/USD performed worst, it fell 2.3 standard-deviations. The USD performed very well.
Markets that saw 1+ standard-deviation gains last week included:
- Rates: Japan 10- and 2-year, US b/e inflation, UK 2-year, Norway 10-year swap, Sweden 2-year swap, and New Zealand 2-year swap
- Equities: Apple, Microsoft, and BOVESPA (Brazilian equity index)
- Commodities: NatGas and soy
Meanwhile, these markets saw more than 1+ standard-deviation declines:
- FX: JPY, KRW, GBP, INR, and CNH (all vs USD)
- Rates: Euro HY and US HY
- Equities: CSI 300 (China), NIFTY (India), Euro Stoxx, DAX, Tesla, Nikkei, and Alibaba
- Commodities: Gold and copper
For this week, we’d watch US rates and the $-bloc.
Bilal Hafeez is the CEO and Editor of Macro Hive. He spent over twenty years doing research at big banks – JPMorgan, Deutsche Bank, and Nomura, where he had various “Global Head” roles and did FX, rates and cross-markets research.