NZD/USD

Just a couple of months ago, emerging-market assets were all the rage as inflation eased and interest rate-cut bets surfaced. The trade has all but fizzled out. The rapid change has come about as oil rallied some 30% from the year’s low to alter the dynamics for developing nations. Costlier crude is reviving price pressures and damping hopes that interest ...

There is a rare and powerful trend occurring in bond markets. History shows that if left unchecked, it can cause serious damage to equity markets and the economy. Over the last 3 months, US bond markets are in an aggressive and prolonged period of bear steepening of the yield curve. Bear steepening happens when interest rates move higher but it’s long-dated ...