Too late to buy, too early to sell ?

In an environment still characterized by a significant uncertainty – with economic slowdown and inflation risks still competing quite closely - investors are taking time to reassess their views this week after a still resilient US newsflow and more cautious Fed speeches (and before today’s core PCE and next week’s crucial jobs figures). US yields are consolidating upward in a bear flattening move, while the S&P500 is poised for its first weekly decline of the month. Overall, market indicators are reflecting a growing investor caution but a strong commitment to the rally.

Rates Weekly : OAT curve retains some advantages for long term investors

EUR ratesRecap of the week:  Range trading in the 10Y Bund yield, which has struggled to reclaim levels above 2.80% observed in March. There is a slight inclination towards steepening, particularly evident in the 2Y-5Y and 2Y-10Y.  Regarding sovereign spreads, there are signs of renewed profit-taking on the BTP curve, which is now trading above the OAT.Insights of the week:  OAT curve retains some advantages for long term investors.Tactical view:  Tactically, we prefer limited duration exposure at current levels. The belly of the curve continues to offer better carry.  We see EUR 10s30s gradua...

RBA プレビュー：インフレの安定化を確実にするには、データ次第を強調せざるを得ず、現状維持が予想される