MAC Monitor

Abating US inflation pushes yields lower; Credit spreads soar as US stock market extends its losing streak; Surging equity volatility boosts portfolio risk.

Treasury curve steepens as Fed discounts ‘jumbo’ hike; Stagflation fears weigh on pound; Continued stock-bond sell-off offsets lower equity and FX volatility

Sovereign yields rocked by geopolitical concerns and monetary-policy expectations; Dollar soars over widening rates gap; Soaring FX and equity volatilities boost portfolio risk.

Stocks and bonds fall together over tighter monetary-policy expectations; Higher rates and global growth concerns boost the dollar; Portfolio risk drops further, as equity volatility continues to decline.

Treasury curve re-steepens as core inflation decelerates; Ukraine war weighs on euro; Lower equity volatility reduces portfolio risk.

Hawkish Fed comments lift Treasury yields to 3-year highs; Dollar appreciates as traders up interest-rate expectations; US stock and bond sell-off negates lower equity volatility.

Treasury curve inverts over concerns of monetary-policy impact on economic growth; Higher rates give euro a boost; Portfolio risk drops as equity volatility continues to decline.

Inflation weighs on European stock and bond prices; Hawkish Fed inverts part of US Treasury curve; Lower factor volatility reduces portfolio risk, as correlations remain stable

Bank of England raises rates, but Gilt yields tumble; Investors abandon safe havens as equity markets recover; Stock market recovery lifts portfolio risk.

Accelerating US inflation depresses stocks and bonds alike; Euro strengthens as European stocks recover; Higher volatility and cross-asset correlations boost portfolio risk.

Ukraine crisis pushes Bund yields below zero once more; European stock market tumbles, dragging the euro with it; Portfolio risk falls, as equities and exchange rates decouple.

Inflation angst sends sovereign yields up, despite Ukraine crisis; Geopolitical tensions boost dollar and commodity currencies; Higher FX and equity volatility raise portfolio risk.