Quarterly Outlook
Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges
Althea Spinozzi
Head of Fixed Income Strategy
Senior Relationship Manager
Good Morning,
Markets remain a bit in limbo as stocks are looking for the next key topic, the Dow gave up 0.03%, the S&P gained 0.09% and the Nasdaq lost 0.04%. The GER40 tested the 15900 yesterday but did not manage to hold the level and retreated to 15850.
The USD Index meandered around 102 while the 2 year yield is at 4.2%. EURUSD is 1.0960m USDJPY 134.50 and Gold and Silver 2000 and 25.08. Ole Posted an update Gold and silver consolidate with focus on US rates
GBPUSD rose just now on a higher than feared CPI out of the UK, 10.1 vs 9.8% expected. This calls cor BoE action at the next meeting and confirms the horrible state of the UK economy.
The EU Inflation date will be key for the ECB`s rate path, we are at 66/33 in favor of 25/50 BPS at the next meeting. The peak rate is seen in October at 3.72%.
Today there are now top releases out of the US, focus will be on earnings – Tesla likely Key, Morgan Stanley is the most important release before the opening bell.
Trade safely
Wednesday 19 April
Tesla, Morgan Stanley, US Bancorp, Zions,Citizens Financial, IBM, Alcoa, Abbott Lab, Lam Research, Las Vegas Sands, Metro, ASML, Heineken
Thursday 20 April
Blackstone, American Express, Comerica, Fifth Third, Huntington, KeyCorp, Sunovus, AT&T, Union Pacific, CSX, Philip Morris, DR Horton, CATL, Tryg, Nokia, Sartorius
Friday 21 April
Procter & Gamble, Regions Financial, Schlumberger, Freeport-McMoRan, Jinko Solar, SAP, Sandvik, Investor
Wednesday 19 April
Thursday 20 April
Friday 21 April