South Town

EUR/USD seems to have found a temporary floor just above the 1.16 level. Fears over Federal Reserve independence and the continued narrowing in US-EU rate differentials should continue to provide some support for the common currency. The extent of the move in the pair since the start of the year sho

European markets rise despite debt and services PMI concerns.Alphabet shares jump after court ruling.Trump tariffs and JOLT job openings data in view. European markets have opened on a positive footing today, showing resilience in the face of lingering concerns over rising borrowing costs. Bond yiel

There’s been a hard start for the Prime Minister in the UK, who has come back to work and hired and fired a number of aides to beef up his economic acumen as we lead up to the Autumn Budget. The Treasury secretary Darren Jones, essentially Rachel Reeves’s former number two, has been poached by Numbe

The US Labor Day holiday and the closed US Treasury market make it a little difficult to infer what investors make of Friday's federal appeals court ruling that President Donald Trump's universal tariffs were illegal. The finding here supports a May ruling from the Court of International Trade that

Chair Powell could have been super balanced, or even hawkish. But he effectively chose to endorse the market discount for a rate-cutting phase ahead. It's had quite the reaction. Risk assets are up, the dollar down, so's the front-end yield. Watch longer tenor yields though - the deep thinkers of th

What was the fuss about tariffs again? Tariffs on imported U.S. goods will surely cause a spike of inflation. That was, and to some extent still persists as, the primary narrative used to finger wag the White House. Meanwhile, staffers gave a few media outlets the rejoinder that we are now four-and-