Weekly Report
AI Anxiety Shakes Markets, But Doesn’t Break Them; Dollar Rebound Might Fade
After days dominated by fears of an intensified tech rout and structural disruption from artificial intelligence, markets ended the week on a steadier footing. While volatility picked up meaningfully, Friday’s price action made clear that talk of an imminent trend reversal remains premature. Investors responded to midweek stress not...
A Credible Fed Choice Tames Tail Risks, Not the Cycle
Last week delivered yet another reminder that volatility has become a feature this year, rather than an exception. Sudden repricing episodes continue to emerge, often driven by political and institutional developments rather than changes in economic fundamentals.
The latest bout of turbulence was triggered by market repricing around the nomination...
Policy Chaos Takes Its Toll; Dollar Long-Term Downtrend Takes Shape
Relentless geopolitics has continued to haunt global markets since the turn of the year, and last week offered little respite. What has changed, however, is not the scale of the headlines but the market’s tolerance for them. Investors appear increasingly fatigued by policy uncertainty and abrupt reversals from the...
When the First Crack of 2026 Appears in US Treasuries
The second full week of 2026 was dominated by high-level political and macro headlines, leaving markets in a constant state of reassessment rather than conviction. Traders were confronted with a dense mix of headlines, ranging from renewed scrutiny of the Fed’s independence to mounting speculation over who will succeed...
Geopolitics Everywhere, Panic Nowhere in Resilient Global Markets
The first full week of 2026 delivered a barrage of geopolitical shocks that would normally be expected to rattle global markets. Instead, investors largely looked through the noise, producing a market outcome that appears counterintuitive at first glance.
The most dramatic development came from Latin America, where the US carried...
Dollar Mirrors Market Doubt, Sterling Saved, Yen Sinks
The past week delivered no shortage of surprises, yet markets ended it with remarkably little conviction. Key macro data and central bank decisions challenged prevailing assumptions, but follow-through across major assets proved elusive.
US economic releases hinted at a faster cooling in both employment and inflation. Under normal circumstances, that...
Dollar Sags, But Warsh Fed Risk May Flip the Script
Dollar ended last week broadly lower, outperforming only the even more beleaguered Yen. That said, the technical deterioration in Dollar is still measured rather than decisive. For now, Dollar's selling momentum reflects hesitation more than capitulation.
Two key forces are shaping this fragile balance. The first is indecisive risk sentiment,...
Santa Rally on Standby with Markets Split on 2026 Fed Cuts
Dollar spent most of the week pinned to the bottom of the performance board, as a steady flow of data reinforced expectations for a Fed rate cut in December. Even though selling pressure eased slightly into Friday—thanks in part to a surprisingly firm rebound in longer-dated Treasury yields—the greenback...
Fed Messaging Chaos Nudges Dollar Higher, Not Higher Enough
Global markets closed last week on an uncertain footing. While bears appeared to have an upper hand, the control was never firmly gripped. Conviction was relatively thin as traders were reluctant to commit decisively. The overall impression was of markets still searching for a coherent theme to latch onto....
Investors Step Back From US Assets Ahead of Data Flood
Last week delivered what should have been a moment of relief for global markets: the US finally ended its historic government shutdown, clearing the way for normal economic data flow to resume. Yet instead of sparking a rally, the reopening brought little comfort.
U.S. assets struggled across the board. Equities...
Dollar Ends Mixed as AI Bubble Fears, US Shutdown, and Tariff Court Case Collide
It was another volatile week in global markets, defined less by fresh data and more by the growing weight of unresolved macro risks. With the U.S. government still in shutdown and a raft of key economic reports missing, investors were left to trade sentiment rather than facts — and...
Dollar and Yields Rise Sharply After Fed, But Both Near Key Barriers Ahead
It was a week packed with market-moving headlines and wild cross-asset swings. Traders found themselves caught between optimism over a U.S.–China trade breakthrough and caution sparked by a hawkish twist from the Fed. The result was a volatile mix that saw US equities push to new records, yields jump,...
Global Risk Rally Reignites as US, UK, and Japan Hit All-Time Highs
Global markets resumed their risk-on momentum last week, buoyed by softer U.S. inflation data, easing political uncertainty, and renewed optimism over global trade. In the U.S., both DOW and S&P 500 climbed to fresh record highs after September CPI figures came in below expectations, cementing confidence that the Fed...
Swiss Franc Rally Signals Deepening Market Unease
Global markets ended the week with an uneasy calm, masking what appears to be growing stress beneath the surface. Wall Street showed resilience — the major indexes finished higher after mid-week volatility sparked by renewed concerns over regional bank stability. Yet in Europe, sentiment was more fragile, as bank-led...
Trade War Shock Roils Markets in a Politically Charged Week
It was a week dominated by politics — both domestic and international — as shifting power dynamics and fresh policy risks rippled through global markets. In Japan, optimism surged after Sanae Takaichi’s victory in the ruling LDP leadership race, clearing the way for her to become the country’s first...
Shutdown Fails to Shake Risk Appetite; Dollar Slips, Not Sinks
A week with political paralysis in Washington ended with record highs on Wall Street — a telling sign of how investors are prioritizing Fed policy over fiscal drama. The U.S. government shutdown, now in effect after Congress failed to pass a funding bill, has frozen major data releases and...
Dollar Dominates as Strong Data Cuts Odds of Aggressive Fed Easing
Currency markets closed last week with a shift in tone, as traders suddenly found themselves recalibrating on Fed's easing path once again. The resilience of the US economy surprised many. Growth, hiring, and investment all showed more strength than anticipated, fueling doubts about whether policymakers truly need to accelerate...
Everybody Happy? Fed’s Decision Calms Markets—for Now
The past week has been anything but quiet for global markets. A long-anticipated Fed rate cut finally arrived, but the message was less dovish than traders had braced for. Instead, policymakers struck a balance — restarting the easing cycle while simultaneously projecting confidence in the economy’s resilience. That left...
Calm Before the Fed: Dollar Soft, Markets Brace for Guidance
Markets traded with a subdued tone today as investors awaited the Fed’s highly anticipated policy decision. The Fed is expected to cut rates by 25bps, but the real market mover will be the details: how divided the vote is, what the updated projections show, and the signals Chair Jerome...
Risk Appetite Anchored by Fed Cut Bets, Aussie Outshines Peers
Markets entered last week with elevated anticipated and left with even sharper convictions. Weak U.S. labor data tilted sentiment decisively toward faster Fed easing, while equity markets used that prospect as a springboard to yet another round of record highs.
Bond markets echoed that view. US 10-year yield broke briefly...