Hints and tips:
...“It’s like night and day,” said Richard McGuire, a fixed-income strategist at Rabobank....
...Eurozone markets also added expectations for an extra European Central Bank rate increase over the coming year “in sympathy,” said McGuire....
...“All this uncertainty and U-turns are bad from a market perspective,” said Richard McGuire, a fixed-income strategist at Rabobank....
...Investors are likely to test the ECB to see how much widening in spreads it will tolerate, McGuire added, “as we do not know where the pain point is, this is absolutely an invitation for pressure to build...
...The industry is also worried that R&D productivity is falling....
...Italian bonds were being hit by an “unpalatable combination” of the prospect of chunkier rate rises along with a lack of detail on any new tools to keep a lid on sovereign bond yields, said Richard McGuire...
...£26.99 a half Uncorked, London Legras & Haas, Chouilly Blanc de Blancs Grand Cru Brut 2012 ChampagneA label founded by Nicolas Legras of R&L Legras and his wife Brigitte Haas....
...“The ECB has stuck to the mantra of no rate hikes this year, but the market is clearly challenging that view,” said Richard McGuire, a rates strategist at Rabobank....
...Markets are now pricing in an interest rate rise from the ECB this year, an unlikely prospect given the squeeze on living standards caused by high inflation, according to Rabobank strategist Richard McGuire...
...Even so, markets had expected slightly more bond buying in 2022 than the total implied by the ECB’s revised plans, according to Richard McGuire, Rabobank strategist....
...But the rise in German yields and break-evens has outpaced other big markets such as the US, suggesting the election has injected uncertainty into a typically staid market, McGuire said....
...“Rates in the eurozone and US have on multiple occasions been driven by the anticipated actions of central banks that are normally on the periphery,” said Rabobank rates strategist Richard McGuire....
...“We’ve seen on a number of occasions now that these central banks that are usually on the fringes of global markets have been in the driving seat,” said Rabobank rates strategist Richard McGuire....
...Investors are unlikely to bet against Greek or Italian debt as markets head into a potential summer lull, according McGuire....
...What will happen if little Tommy is denied his baby Yoda? What kind of parents will we look like if we cannot shower our offspring with plastic tat?...
...“For many years, bond markets have followed a ‘bad news is good news’ mantra,” said Richard McGuire, head of rates strategy at Rabobank....
...“It’s ‘heads I win, tails you lose’ for peripheral bonds,” said Rabobank strategist Richard McGuire, referring to the euro area’s riskier borrowers....
...“We are on the cusp of a second wave of the pandemic and this is the most heavily indebted major eurozone country, and yet Italy can fund itself for free,” said Rabobank strategist Richard McGuire....
...“We’re still in an environment where anything with a yield is an easy sell,” said Rabobank strategist Richard McGuire....
...“[The] creditworthiness of member states is back at the centre of the market’s radar,” said Richard McGuire, a rates strategist at Rabobank....
...Its most recent instalment, co-created with Formula One champion Lewis Hamilton and American R&B singer Gabriella Wilson, aka H.E.R., was released at London Fashion Week earlier this month....
...“The ECB has delivered the shock-and-awe policy announcement that was lacking from its last meeting,” said Rabobank strategist Richard McGuire....
...“Investors are once again choosing assets according to their quality, instead of selling the family silver to get cash, and that’s reassuring” said Rabobank strategist Richard McGuire....
...Richard McGuire, strategist at Rabobank, said: “This is another barrier to solidarity during the Covid crisis.”...
...“The market had been primed for a 2008-style response,” said Mr McGuire. “Instead what we got was the impression of the ECB not being in control.”...
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