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19.08.26 - 19:06
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Stocks Climb as Treasury Steps In to Support Bonds (Bloomberg)
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Wall Street staged a rebound after the Treasury said it plans to boost buybacks of longer-dated bonds, a signal the US wants to lower borrowing costs after yields hit multi-decade highs.
Lindsay Rosner, Head of Multi-Sector Investing at Goldman Sachs Asset Management, discusses her views on market resilience and global risk premiums. (Source: Bloomberg)...
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19.08.26 - 14:36
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Goldman′s Rosner Sees More Than AI Debt Weighing on Treasury Yields (Bloomberg)
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Lindsay Rosner, head of multi-sector fixed income investing at Goldman Sachs Asset Management, examines the impact of AI debt on the demand for long-end US Treasuries. Rosner also says she doesn't expect much clarity in the FOMC meeting minutes on the central bank's reaction function. (Source: Bloomberg)...
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07.08.26 - 15:16
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Bonds & Bullion Jump, Dollar Dumps As Rate-Hike Odds Slump After Payrolls Miss (ZeroHedge)
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Bonds & Bullion Jump, Dollar Dumps As Rate-Hike Odds Slump After Payrolls Miss
As we noted in our preview, today's payrolls print was indeed "bad news is good news" as the surprise five-sigma miss (-23k) on payrolls (albeit with a drop in the unemployment rate) sent rate-hike odds reeling lower...
“History doesn't repeat, but sometimes it rhymes. For the third time in as many years, July jobs data saw a mid-summer loss of momentum. While incoming inflation data will be the ultimate arbiter, slowing jobs growth helps support a September hold,” says Lindsay Rosner, head of multi sector fixed income investing at Goldman Sachs Asset Management.
That helped smash Treasury yields lower, led by the short-end...
...which in turn crushed the dollar...
...lifting gold above $4350...
Some good news for Bessent, JPY is strengthening...
Stocks are also soaring, with Nasdaq leading the way...
Admittedly, as JPMorgan's Feroli flagged, technical effects such unwinding of World Cup-related hir...
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08.06.26 - 12:36
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Bonds Drop as Israel-Iran Strikes Raise Inflation Fears (Bloomberg)
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US stocks have staged a modest rebound even as flaring tensions in the Middle East sent oil prices and bond yields higher. Futures for the S&P 500 rose 0.2% after a selloff in artificial intelligence stocks came to a halt. Bond traders are wagering that inflation figures this week will show the biggest surge in consumer prices in several years, adding to pressure on the Federal Reserve to raise interest rates. Global bond markets have seen a profound shift since late February, when the US and Israel's attacks on Iran sparked a surge in oil prices, derailing bets that the central bank was poised to lower rates in 2026. Lindsay Rosner, Head of Multi-Sector Investing at Goldman Sachs Asset Management explains. (Source: Bloomberg)...
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05.06.26 - 00:30
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Korean Officials Are "Paying Close Attention" As Foreign Outflows Trigger Bond/Won Collapse (ZeroHedge)
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Korean Officials Are "Paying Close Attention" As Foreign Outflows Trigger Bond/Won Collapse
Unless you have been living under a rock, you'll know that South Korea's stock market has been rocketing higher on the back of the AI/Semi speculation as SK Hynix and Samsung have dominated (accounting for over 40% of the KOSPI market cap)...
But, as the following chart from Goldman Sachs shows, this surge in Korean stocks has been driven by domestic Retail investors as Foreign investors have fled that market en masse...
These outflows have sparked a collapse in the Korean Won (exacerbated by pressure some Asian currencies face as the Iran war drags on), now at its weakest versus the USDollar since 2009...
...and pushed yields for South Korean bonds to their highest in almost 3 years...
With all that in mind, Bloomberg reported earlier in the week that South Korean officials have intensified monitoring of the government bond market through daily phone calls and a private messaging group wit...
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