Richard Jones has traded and invested in interest rate and FX market portfolios spanning three decades, both on the buy-side and sell-side. He was also an FX & Rates Strategist with Bloomberg News’ Markets Live and First Word products.
Meet Richard Jones
Recent Articles
FX
G10 FX Weekly: Settle in for Rangebound UST Trading
Richard Jones
Summary Roughly seven weeks into 2025, and the US treasury (UST) market has already established decent, tradable year-to-date (YTD) ranges. For 2-year, 10-year and 30-year UST yields, trade has been choppy but should now churn around within the YTD ranges into March. With tariffs set to start next month (or, for Canada and Mexico, additional […]
Momentum Models Increase Bearish UST Exposures and Flip Long USD/JPY
Richard Jones
When evaluating the performance of our momentum models we are considering the average performance across the one-, three-, and 12-month momentum models. Summary Momentum models were up +0.4% over the past week, with equity models up +1.2% WoW, FX models up +0.1% WoW, and rates models up +0.3% WoW. Momentum models are up +0.8% in […]
Momentum Models Cut Bearish Rates Exposure, Reduce USD Longs and Increase Equity Bullishness
Richard Jones
When evaluating the performance of our momentum models we are considering the average performance across the one-, three-, and 12-month momentum models. Summary Momentum models were down -0.4% over the past week, with equity models up +0.3% WoW, FX models down -0.3% WoW, and rates models down -0.9%. Momentum models are up +0.4% in aggregate […]
G10 FX Weekly: USD/CAD Rally Appears Overdone on Potentially Limited Trump Tariffs
Richard Jones
Summary Since the US election on 5 November, USD/CAD has rallied about 4.75%, and closed 2024 at the highest level since Q1 2003 (quarterly). President Donald Trump’s threatened 25% tariffs on Canada, with tomorrow (1 February) as a likely imposition date, has partly driven CAD weakness. However, the tariffs might not include oil, which should […]