Global Macro

In eventuality, the Fed ‘out hawked the hawks’, or marked the dots to market…

We continue to see a soft landing as a likely outcome (although there are clearly risks in both directions – growth and inflation) and recent market reactions as oscillations around its glide path…

We continue to see a soft landing as a likely outcome (although there are clearly risks in both directions – growth and inflation) and recent market reactions as oscillations around its glide path…

Overall, the ECB developments were broadly as expected and, from our perspective, likely enough to stabilise the EUR…

it is not the UK that dominates the debate this week, but the US. And for the Federal Reserve System (Fed), the issue of communication remains at the fore…

In the near term, UK growth is a lot further away from its respective nirvana, perhaps it really is less dangerous “with the lights out”, for a while at least!

This week we ask, have neutral rates set up a clash between the markets and the Fed?

Perhaps the EUR vs. USD arguments have simply been lost in the acronyms from Miami to Ibiza?

Last week we discussed the evolving financial market backdrop, as the focus continues to shift away from inflation and towards the implications of prices …