Yield up from 1.344% a week ago
Looking at the week, the yield move down on Monday and Tuesday bottoming near the September low around 1.267% (the low yield reach 1.263%). The last three trading days has seen a move to the upside on each successive day. Today the high yield reached 1.385%. That equaled the

Not a great look
There’s been a brewing controversy around covid booster shots, which the President touted last month. Biden said they would start rolling out next week.

Natural gas prices down 5% today
The one-way trade in natural gas markets has finally stopped, at least in the US.
Natty is down 5% today and now up just 2.6% on the week. If you scroll out though, it’s been a one-way trade since April and a remarkable bull run.

Forex news from the European trading session – 17 September 2021
Headlines:
Markets:
– AUD leads, JPY lags on the day
– European equities lower; S&P 500 futures down 0.3%

The US government is anticipated to default on payment obligations possibly some time in October
This is one risk that perhaps the market is largely ignoring, mainly because more often than not it is a political standoff that eventually gets sorted out because let’s be real, politicians themselves perhaps have more to lose than the working

Risk turns slightly softer in European morning trade
European equities got off to a good start but all of that has been erased now as regional indices turn red with US futures also marked down by 0.3% currently.

The ECB continues to try to play the ‚transitory‘ card
And that will be the name of the game until they feel the squeeze of being pushed into a corner. It is going to be interesting to see how this all plays out with the hawks at the central bank considering that base effects and the

Remarks by ECB policymaker, Martins Kazaks
Again, the nature of inflation may yet be ‚transitory‘ but the challenge for central banks is figuring out how long that may be. With supply bottlenecks set to continue through to next year and the pandemic still stifling a synchronised global recovery, ‚transitory‘ could mean another year of high cost/price

Forex news from the European trading session – 16 September 2021
Headlines:
Markets:
– NZD leads, CHF lags on the day
– European equities higher; S&P 500 futures down 0.1%

Estimates suggest a 0.7% m/m decline in retail sales for August
The drop on the month will owe much to a plunge in auto sales, so look towards that for any „spin“ on the report later today if the market is to go with the narrative that the economy is still holding up ahead of next