15 May 2019
AFS Morning Comment May 15 2019
We sound like the proverbial broken record when we say that the EONIA forward curve is waaay mispriced. Does anyone believe that the ECB will be raising rates in the first half 2021 when the…
AFS Morning Comments & Calendars
26 April 2019
AFS Morning Comment April 26 2019
In the week that was risk assets have been a bit wobbly, while bonds have recouped some their late March/early April loses on generally weaker than expected global data that suggest no rebound in global…
10 April 2019
AFS Morning Comment April 10 2019
While we previewed today’s ECB meeting on Monday (summary: it won’t be exciting, to say the least), we have a few more things to say about what Draghi & Co are up to. As mentioned…
AFS Morning Comment April 8 2019
The key risk event in the Eurozone this week is without a doubt the ECB meeting. However, do not expect the ECB to reveal the full operational details of the new TLTROs just yet. Furthermore,…
AFS Calendar April 6 – April 12 2019
Key events in the week of April 6 – April 12 2019 Monday April 8 • ECB’s Villeroy speaks • IMF/World Bank Annual Spring Meetings in Washington Tuesday April 9 • ECB Quarterly Bank Lending…
AFS Morning Comment April 5 2019
The peak is nigh. The peak in the US labor market that is according to the bond market. In yesterday’s Comment we explained the meaning of the shape of the yield curve (not the meaning…