MAC Monitor

Surging oil prices lift both inflation expectations and bond yields; Dovish ECB keeps the short end of the Bund curve anchored, as long yields rise; Risk appetites increase, but portfolio risk declines.

Persistent inflation and rate-rise fears keep pushing yields higher; Stagflation specter spooks sterling; Perfect storm of positive correlations boosts portfolio risk.

Hawkish central banks boost global sovereign yields; Traders up probability of earlier BoE rate hike, lifting Gilt curve; Stock-market turmoil heightens portfolio risk.

Retail sales increase and inflation drops—but stocks and bonds keep falling; Consumer-price surge lifts UK yields; Portfolio risk falls, as correlations weaken.

Sparked by inflation fears, stocks and bonds fall; Bund curve steepens, as ECB raises growth forecast but maintains rate outlook; Index linkers offset equity losses, cutting portfolio risk.

Inflation shock boosts Bund yields: Dollar falls over disappointing jobs data—but stocks continue to climb: Lower equity volatility reduces portfolio risk.

Yields fall after Powell speech—but still end the week higher; Traders push back rate-hike expectations and the dollar takes a fall; Closer FX/share-price co-movement continues to raise portfolio risk.

Fed drops a hint…and stocks & yields take a dive; Surprise slump in inflation takes down the pound; Portfolio risk surges, as equity-FX correlation soars

After a turbulent week, Treasury yields remain mostly unchanged; Pound falls and Gilt curve flattens, as UK growth misses BoE projection; Portfolio risk falls further, as equity volatility continues to decline.

Yields reverse course, rising on stronger-than-expected jobs gain; Gilt curve flattens, as BoE signals ‘modest tightening’; Portfolio risk plunges, as equity and FX volatilities both fall.

Economic worries continue to drive down bond yields; Bunds follow Treasuries higher despite surge in domestic inflation; Portfolio risk rises marginally, as higher bond contributions offset lower equity volatility.

Strong earnings and central-bank support lift European stocks and bonds alike; Dollar continues to strengthen, as stock market posts record high; Portfolio risk surges amid stock-market turbulence.