Dit artikel wordt u aangeboden door RBC BlueBay Asset Management.

An invidious market

An invidious market

Key points

  • Fixed income markets have been quiet, while corporate earnings have continued to impress, and this has helped the resilient equity market.
  • Meetings with policymakers suggest that central bankers are generally content with market pricing, which is a marked change from the beginning of the year.
  • In the UK, fiscal easing will be a theme next month, while there has been more fiscal prudence in the Eurozone.
  • Looking ahead, our main focus will be US PCE Core data. An upside surprise could see yields push higher, if falling inflation is questioned.

Financial markets were particularly quiet at the start of the past week, with government bonds trading in an unusually narrow range. With few data releases to focus on, it was telling to observe just how many fixed income commentators seemed tempted to turn into armchair analysts on the Nvidia stock price, in the run-up to the company’s latest quarterly earnings release on Wednesday.

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