Policymakers struggle to rein in sticky core inflation
Core inflation of goods and services defies expectations in Europe — while U.S. economists revise forecasts.
James Van Straten 1 min read Macro Insights
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James Van Straten 1 min read Latest insights
Macro
ECB joins global central banks in balance sheet expansion YTD
ECB joins Fed and PBoC in balance sheet expansion YTD to stimulate economy — quantitative easing on the rise.
Macro
Market uncertainty on Fed rate decision persists as yields rise
There is nearly a 50/50 split between pause and rate hike expectations at the next FOMC meeting.
Macro
Rate cuts are now the expectation as fed balance sheet grows
Markets are signalling rate cuts, as bank funding stress increases
Macro
Ripple effects, contagion, counterparty risk as banks and crypto stocks slide
Deutsche Bank share price down 15%, European banks tumble, but Bitcoin price continues to hold firm despite volatility.
Bitcoin
FOMC Verdict: Rates raised by 25bps, FOMC dot plot remains unchanged, Bitcoin stays at $28,500
Jerome Powell raised the fed funds rate by 25bps taking fed funds rate to 4.75 - 5%.
Bitcoin
Bitcoin breaks £23,000 as UK inflation hits double-digits, markets price in 25bps for the BOE
UK CPI YOY breaks double-digits as BTC breaks out past £23,000 and exceeds economic forecasts as rate hike looms.
Macro
Rules For Thee but Not for Me: Holders of AT1 Credit Suisse bonds get nothing as shareholders get billions
Pre Market Moves: UBS down 5%, Credit Suisse down 7% and First Republic down 33% — AT1 Credit Suisse bond holders at a loss.
Macro
The Fed has capitulated – daily swap lines introduced as Bitcoin feeds off liquidity
Weekly USD swap line operations with the Fed will now become daily experience for five of the main central banks.
Macro
Banks resume slide as First Republic gets $30B in deposits
Credit Suisse and First Republic Bank slide during pre-market, while SVB files for bankruptcy.
Macro
ECB Rate hike verdict is 50bps, Bitcoin stands firm just below $25k
ECB raised the deposit facility rate from 2.5% to 3%
Macro
Bailout, bailout bailout! Further backstops and liquidity for Credit Suisse as all roads lead to Bitcoin
Credit Suisse borrowing up to 50 billion CHF from Swiss National Bank bailout as Credit Suisse shares plummeted over 20%.
Macro
Gold is pricing in global financial distress, while oil prices in recession
Gold reflects financial uncertainty, while oil predicts economic downturn