Until late last week, investors were assigning only a very small probability to the US Fed hiking interest rates next month. But it all changed this past week as a drastic re-pricing caused the dollar to appreciate, US bond prices to fall and emerging market assets to sell off. The main trigger was the Fed’s minutes from their last meeting...
Read more…and it seemed to have been a horror week for the local economy. It started off relatively well, with the feel good factor that Moody’s didn’t downgrade the country’s sovereign credit rating following their most recent review that was released at the end of last week They kept a negative outlook on the rating, but saw the glass as half...
Read moreThe global focus was on US employment data this week as the US Fed’s data dependent policy has meant that investors have increasingly turned more short-term orientated in their decisions. Some Fed members spoke during the week, causing nervousness ahead of the release of the US non-farm payroll data as they stressed that the next June meeting remained an open...
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