Overview

Last week world equity markets again came under pressure as confidence ebbed away from the bulls and uncertainty surrounding Europe again dominated the agenda. On Friday the S&P 500 future dropped below May's (more...)

Overview

Over the last five days Bunds have traded very erratically in the wake of confusion surrounding the Greek bailout. (more...)

5^th January 2010

Bond Futures

Overview

Over the last five days we have seen government bonds on both sides of the Atlantic remain under pressure. The Bund gave up more ground sliding over 100 prices before consolidating around November lows. The US Ten Year has been hit more in recent trading with a very bearish contract role resulting in last week’s consolidation occurring around September lows (114.285). (more...)

17^th November 2009

Bond Futures

Overview

Last week was quiet in terms of economic releases although we did see 3 large auctions in the US. Demand for these was seen as satisfactory by market participants and commentators although they provided little more than volatility for short term participants. Over the last five days we have seen the Bund predominantly trade sideways with the exception of yesterday morning when fears surrounding Greek government bonds provided the stimulus for an aggressive 60 tick drive higher.

A similar sideways trading pattern has been seen in the US Ten Year although a significant rally was seen last night on the back of some dovish comments out of Fed Chairman Ben Bernanke.

(more...)

13^th November 2009

Macro Economic Overview

Global Interest Rates and Labour Markets, and Bonds

Last week saw the release of the US Employment report. The report showed that although the pace of job losses has slowed down, unemployment rates continue to climb. Last Friday’s release saw unemployment rate jump to 10.2%, the highest level since the early 1980s. On the back of this we saw participants scale back their expectations of monetary policy tightening by the Fed.

  (more...)