9 October 2019

AFS Morning Comment October 9 2019

The sole key risk event on today’s rather short calendar is the release of the FOMC minutes at 20:00 CET. Therefore, today’s Comment is dedicated solely to the Fed’s balance sheet and money market troubles…

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Digital figures over high way

4 October 2019

AFS Morning Comment October 4 2019

Payrolls preview: after the peak comes the…   …trough. Before we start with previewing this afternoon’s data, just a very quick market overview ahead of payrolls first (data preview further down below). The dollar is actually…

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3 October 2019

AFS Morning Comment October 3 2019

US Treasury yields have slid further overnight while equities losses are stacking up on – you guessed it – global growth fears. That, and the Trump impeachment train is… well… moving forward.With Treasury yields having…

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2 October 2019

AFS Morning Comment October 2 2019

Not much of a rebound in US Treasury yields this morning following the epic plunge on Tuesday afternoon in the wake of the very disappointing US ISM Manufacturing PMI. Just to refresh your memory, the…

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Beursplein 5 voor offices (1)

AFS Morning Comment September 24 2019

Yesterday’s Eurozone PMI data were simply awful. The German manufacturing PMI in particular was a shocker, with the index falling to a 10-year low of 41.4. That doesn’t bode well for this morning’s German Ifo…

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beeld op balkon van achteren

18 September 2019

AFS Morning Comment September 18 2019

Predictably, all eyes will be on the FOMC meeting this evening. Expect a 25bps in the target federal funds rate. That should translate to a 25bps cut in the actual policy rate, the Interest on…

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