海外研报

If the plan is to sell dollar rallies, it isn’t working

Jay Powell’s focus on labour market data as the biggest driver of rate-hike timing leaves days like today (no jobs numbers, only consumer confidence, house prices and regional fed activity

EM FX Trading: Top Trade Thursday

At Jackson Hole, Powell gave a clear indication that cuts are to come, and with this the market is now focused not on whether the Fed will cut in September but by how much. Powell's

MS_Immigration- Global Perspective on a Growing Macro Driver

Global Economic BriefingImmigration: Global Perspective on a Growing

US Federal Reserve and commodities

The US economy is en route towards a soft landing. Inflation is trending towards the Federal Reserve’s (Fed) 2% inflation target, and

Why High Yield Now?

We’ve often heard that European High Yield spreads are tight (currently ~370bps), and that prices need to fall (and yields rise) before the credit cycle can ultimately