After three full weeks of military tensions, equity markets have finally pulled back with some consistency, and among the indices, some have even entered what is considered correction territory—a decline of more than 10% from their highs. Today, we’ll take a brief overview of them, trying to understand whether it’s time for a pause in […]
The Bank of Japan on Thursday kept its rates steady at 0.75%, as expected, but noted that inflation risks are now tilted to the upside due to the Iran war. The decision was split, with eight of the nine members voting in favour of a hold and only Hajime Takata proposing a rate hike to […]
In the next 48 hours, all the major central banks in the world will meet and decide the next steps in their respective monetary policies, after the Australian RBA once again raised its benchmark rate on Tuesday morning. It starts in a few hours with the Bank of Canada, followed by the Fed, then BOJ, […]
Yesterday, oil prices declined, with the Brent benchmark falling by 2.84% to $100.21 and WTI dropping by 5.27% to $93.50. Among other factors, this confirms our view from a few days ago—a renewed widening of the WTI–Brent spread toward $7 after reaching parity last Monday. However, the focus now shifts to broader supply dynamics. The […]
There is a second major shift—the first is obviously the oil shock—produced by the current crisis in the Middle East: the policy outlook of the major global central banks has changed rapidly, and this is something we will discuss in greater depth later this week. The discussion is no longer only about accommodative policy and […]
Several UK macroeconomic releases were published earlier today and they were disappointing across the board: GDP MoM came in flat at 0%, industrial production was also close to flat and below expectations, and the services index was weak as well. The GBP is feeling the impact, losing 0.41% against the USD today and also 0.06% […]
Despite its reputation as a safe haven, gold has not performed particularly well following the outbreak of tensions in the Middle East. At yesterday’s close in New York, the yellow metal settled at $5,134.39, $144 lower than Friday, February 27, or – if preferred – a decline of 2.72%. Why this move when the safe-haven […]
Amid recent geopolitical developments, futures on the implied volatility of the S&P 500—the VIX—rose to touch the 30 level on Monday, March 9, a level last seen in April 2025. In a recent note published by a professional volatility trader, it was argued that when the VIX closes above 30, opportunities for volatility traders tend […]
As per the data released overnight, Japan’s GDP expanded more than expected in the final quarter of 2025, with annualized growth of +1.3% in Q4 2025, compared with +1.2% expected and +0.2% in the previous reading. The stronger performance was mainly driven by robust business investment, which increased 1.3% (vs. 0.2% in the flash estimate). […]
This morning, Brent crude surged by 29%, reaching $119.50 per barrel, briefly matching the spread with WTI—typically positive—and bringing it close to zero. The intraday high for U.S. crude was $119.40. This shock start to the week adds to the gains recorded over the last five trading sessions, totaling 35%—the biggest gain in futures trading […]
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