Both the 3yr and 5yr payers are impact positive in carry, but that dissipates as the RBA cuts (final (3) above). The 10yr has cumulative negative carry of some 500bp (average 50bp pa). This may seem ...

Romanian inflation remained elevated in February, at 5.0%, driven primarily by energy prices and services. While this could still prove to be just a hiccup in the disinflation cycle, it further adds ...

Production increased by 0.8% month-on-month in January, which confirms hopes of a bottoming out after two years of declining output.

The increasing Bund component could reach up to 85% assuming the credit spreads stay steady. In order to remain closer to ...

Other large increases in supply are expected from Ghana and Ecuador, which are forecast to see supply grow by around 13% and 12%, respectively. The International Cocoa Organization (ICCO) estimates ...

The bond market had a counterintuitive reaction to yesterday’s cooler-than-expected core CPI data (0.2% MoM), with the Fed’s ...

Oil prices bounced higher yesterday on a constructive weekly inventory report from the Energy Information Administration ...

SPD and CDU/CSU: Exempt defence spending greater than 1% of GDP from the debt brake and allow the German federal states to incur deficits of 0.35%. Creation of a €500bn special fund for infrastructure ...

The Monetary Policy Council (MPC) kept all interest rates unchanged today. The debate was heated, as the decision was ...

Incidentally, the inflation story is yet to improve convincingly enough for the Fed to cut rates again. Today’s February CPI release can trigger an uptick in the dollar should our call for 0.3% core ...

South Africa’s finance minister Enoch Godongwana today presented the country’s 2025 budget, having already delayed the process from 19 February amid disagreements within the ruling Government of ...

US tariffs are clouding the Canadian outlook, and the Bank of Canada has trimmed rates by 25bp to 2.75% today in line with ...