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Global Macro

Outlook for Japanese Yen Remains Weak, Goldman Sachs Predicts

The Japanese yen is projected to remain weak in the coming months, according to an analysis by Goldman Sachs on Wednesday. Despite hitting a 33-year low against the US dollar in April, analysts at the firm believe the yen could stay at or above 150 to the dollar for the

German Factory Orders Slump for Third Consecutive Month, Casting Shadow on Manufacturing Sector

New factory orders in Germany continued their downward trend in March, falling 0.4% month-over-month, according to a report by Moody's Analytics. This marks the third consecutive monthly decline, underscoring the persistent weakness in demand for industrial goods and raising concerns about the outlook for the German manufacturing

US High Yield Bonds Face Headwinds as Inflation Stalls: Nomura Reports

US high yield bonds edged lower in April, with the ICE BofA US High Yield Constrained Index (HUC0) declining 1.0% and reducing the year-to-date total return to 0.5%, according to a report published by Nomura. This decline is attributed to stalled progress on inflation and the subsequent rise

S&P 500 Companies Exceed Earnings Expectations in Q1: FactSet

S&P 500 companies are surpassing earnings expectations for the first quarter of 2024, with both the percentage of companies reporting positive surprises and the magnitude of those surprises exceeding historical averages, according to a report by FactSet. With 80% of S&P 500 companies having reported Q1
S&P 500 Companies Exceed Earnings Expectations in Q1: FactSet

European Natural Gas Prices Surge Despite Bearish Fundamentals

European natural gas prices experienced a significant rally on Thursday, with the Dutch TTF benchmark settling 7.6% higher at nearly EUR 31 per megawatt-hour. This surge comes despite several bearish factors currently influencing the European gas market, according to a commodity report by ING. ING notes that while concerns

Asian Central Banks Face Currency Weakness as US Dollar Strengthens

Central banks across Asia are grappling with the challenge of weakening currencies as the US dollar continues to strengthen, complicating their path towards easing monetary policy. The resilience of the US economy and expectations for delayed Federal Reserve rate cuts have fueled the dollar's rise, putting pressure on
Asian Central Banks Face Currency Weakness as US Dollar Strengthens

Treasury Signals Stable Debt Issuance, Calming Market Jitters

The US Department of the Treasury announced plans to raise approximately $17.2 billion through Treasury securities auctions next week, indicating a stabilization in borrowing needs after several quarters of increases. This news brought some relief to Treasury investors who have been closely monitoring the government's debt issuance
Treasury Signals Stable Debt Issuance, Calming Market Jitters

UBS Expects Soft Landing

Despite recent market volatility and concerns over persistent inflation, UBS remains confident in its base case scenario of a "soft landing" for the US economy, according to the bank's latest daily report. UBS anticipates a cooling of both economic growth and inflation, paving the way for

Central Banks Fuel Record-Breaking Gold Demand: World Gold Council

Central banks worldwide continued their strong appetite for gold, setting a new first-quarter record for net purchases, according to the latest report by the World Gold Council. Global official gold reserves grew by a net 228 tonnes in Q1 2024, surpassing the previous Q1 record set in 2013 and marking
Central Banks Fuel Record-Breaking Gold Demand: World Gold Council

BOJ Data Hints at Possible Yen-Buying Intervention as Currency Plunges: Nikkei Asia

Data released by the Bank of Japan (BOJ) on Tuesday suggests that the Japanese government may have intervened in the currency market to support the plummeting yen, Nikkei Asia reports. The yen saw a dramatic turnaround against the US dollar on Monday after falling close to 12% since the beginning