5 March 2021

AFS Morning Comment March 5 2021

As far as US investors are concerned, the Federal Reserve needs an even bigger dove as Chair. With JPow resolutely sticking to his easing plans despite an economy that probably returned to its pre-pandemic level…

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4 March 2021

AFS Morning Comment March 4 2021

As mentioned in recent comments, we have been skeptical of the ECB significantly stepping up bond purchases to counter a rise in nominal and real bond yields. After the December Governing Council meeting we warned…

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Beursplein 5 voor offices (1)

2 March 2021

AFS Morning Comment March 2 2021

Meanwhile in markets, Friday’s bond market recovery remains intact despite US Treasuries hitting a speedbump yesterday. At pixel time the 10y had settled at 1.40. Eurozone government bonds we’re already in fully rally/recovery mode yesterday,…

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jauke scherm

1 March 2021

AFS Morning Comment March 1 2021

Regarding the bond market sell-off, a divergence of sorts has emerged between the ECB and now the Reserve Bank of Australia and the one hand and the Federal Reserve and the Bank of England on…

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23 February 2021

AFS Morning Comment February 23 2021

Meanwhile in markets, ECB President Lagarde’s ‘checking bond yields’ remarks have stopped the bleeding for Bunds, Treasuries and the lesser gods of the bond market. Asian equities have appeared to gotten the message of the…

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