Spot the moment that US CPI surprised 0.3% to the upside, and a 0.5% increase on the previous release
EUR/USD back below parity
Low of 0.99979
#inflation
The USD Currency Index (DXY) hit a 21-year high today, exceeding the Jan-17 (Trump) and Mar-20 (Covid) spikes. With huge drawdowns across equity & FI, the energy & supply crises, war in Europe, and CB monetary tightening, demand for the WRC has skyrocketed.
#Dollar
Treasury yields have tightened considerably over the last 6 months.
The 30yr, 10yr, 5yr & 2yr are all within 40bps, and over 2%.
10yr & 5yr are inverted.
#bondmarket#dcm#treasury#yields
It's not a meme stock, a shitcoin, or oil futures, it's the Russia 5yr CDS.
1700% since Thursday 24th Feb, as institutions price in a Russian default.
They are betting on Russia failing to meet the coupon payments on two USD sovereign bonds maturing in 2023, and 2043.
US & UK yields took a dip since Thursday since Russia invaded Ukraine, dropping by 25 to 50bps. Each of the yields rose by about 25bps today as inflationary pressures are increasing e.g. Crude hitting 2014 levels >$110/barrel. Rate hikes are inevitable.
Overlaying the RTSI on top of a Russian ETF that's traded on Euronext Paris shows the potential catastrophe awaiting the Russian stock market. As it stands, the MOEX could reopen under 200, if internationally-traded Russian equity is anything to go by
#investing#Russia#MOEX