Optimism (almost) always wins in the end

Macro-economy
May 21, 2021

Equity markets rebounded, bond yields edged down and the USD weakened: the impact of the Fed minutes has evaporated or maybe the markets are relieved to see the Fed starting to face up to the inflationary risk as long as the economic recovery is being confirmed. Preliminary PMIs will be released today. The bad Japanese figures should not set the trend. The EUR/USD exchange rate is trading close to its February’s high, near 1.2240.

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Optimism (almost) always wins in the end

You might also read :

EUAs tumbled on Commission’s plan to sell allowances from MSR

The situation is becoming untenable for central banks

Bond yields on the rise, as Democrats look close to victory

Simplifying energy markets