Last week the Chinese central bank finally cut one-year Loan Prime Rate (LPR) by 10bps from 3.8% to 3.7%, and also cut five-year LPR by 5bps to 4.60%, the first cut since April 2020 when global economy was in the midst of pandemic uncertainty. In the past two months we have also seen the creditContinue reading “U.S. Growth Outlook, Commodity and Equity Sector Selection”
Tag Archives: yield curve
Research Note: South Africa Local Curve
Download PDF: South African local curve will likely continue to bear flatten in the coming months as the central bank start to raise policy rate as inflationary pressure rises – in line with other EM countries. Currently we see sufficient spread of ZA 10-year bonds against global benchmark amid the backdrop of abundant global liquidityContinue reading “Research Note: South Africa Local Curve”
Where Are We in The Cycle? Yield, Gold, and Copper
Download PDF: Copper/gold ratio has increased to prior peak in the business cycle, although yield curve is only halfway through. This could be explained by the dovish stance held by Federal Reserve to stay accommodative until maximum employment is achieved and inflation average at 2%, meaning that unlike in previous cycles, pre-emptive tightening is notContinue reading “Where Are We in The Cycle? Yield, Gold, and Copper”
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