The US Fed has cut its policy rate by 25bp. They acknowledge that policy remains restrictive and that further cuts are likely ...

Thursday’s NBP press conference hasn’t changed our conclusions from yesterday’s press release. The committee’s stance has ...

We expect oil and European gas prices to fall throughout 2025, with both balances looking more comfortable. The macro and geopolitical backdrop suggests there is more upside for gold ...

Trump’s victory means there are more ‘known unknowns’ than even that other Donald, Mr Rumsfeld, could ever get his head ...

But the outlook for 2026 is more uncertain and clouded by the threat of tariffs. If those tariffs are watered down – either ...

Ahead of the US election, FX market volatility had been rising in expectation of a very uncertain outcome. In the event, a clear result emerged very quickly and volatility, at least short-term ...

The region’s economy continues to disappoint, although the recovery from last year is still underway. Figures for the third quarter once again show a mixed picture. The monetary easing cycle has ...

British 10-year government bond yields have risen almost as far as in the US since the start of October on budget concerns ...

A negative sentiment shock in the wake of Trump's victory is likely to depress eurozone growth over the winter ...

Investors also seem to have concluded in the immediate aftermath of Donald Trump’s election that the assumed hit to European ...

The Bank of Japan will continue on its path of policy normalisation, supported by sustained inflationary pressures and a ...

With so many crosswinds to deal with, market rates have decided to rise, especially in the US. We find there is more room for ...