Spring saw a rise in risk appetite. Though banking jitters are still an undercurrent, the various rescue measures, including UBS’s takeover of Credit Suisse over the weekend, helped ease global tensions. Trading in Japan Public holidays are observed. European and US Stocks For now, there are continuing gains as the US Dollar stabilizes at 103.
European officials confirmed that equities would take losses over risky bonds. Asia’s AT1 bond market recovered thanks to these investors. There is speculation that the US Temporarily, we could agree All bank deposits are guaranteeds It is also helpful if the financial crisis grows!
- RBA Commentators indicated that the bank will take into account A pause in tightening cycles At the next meeting.
- ECB: ECB’s de Cos won’t validate bets of 3.25% peak deposit rate. After careful comments about the situation and in light of recent financial marketjitters Lagarde Markets have lower expectations for the peak rate of deposit. 3.25%, This would only be a 25-bp increase. ECB’s Kasaks We suggest more rate hikes if things stabilize.
- FX – USDIndex It is slightly higher at 103.10 today. EUR To be slightly lower 1.0712 But still in an upchannel JPY At least PP 131.72. STerling Holds gains above 1.2250. AUD…