Drivers for the Week Ahead

Blog icons-DRIVERS

  • We agree with the consensus that the markets are in a transition phase 
  • Weakness in the key US labor market report will be quickly shrugged off as adversely skewed by the record storms 
  • European and Japanese politics have erupted on the stage 
  • Brexit and Chinese dynamics are also changing; EM FX remains under pressure 

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Heavy Oil Weighs on Yields and Lifts Yen

new oil

  • Prime Minister May’s Queen Speech will be given today, which opens up a two-year parliamentary session following the question time
  • MSCI finally agreed that China had taken sufficient measures to begin including the mainland’s A-shares in its Emerging Market equity index
  • The US session features existing home sales
  • South Africa May CPI rose 5.4% y/y, as expected; Argentina Q1 GDP is expected to grow 0.1% y/y vs. -2.1% in Q4

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