Melissa Cheok
@mkcheok
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ESG Research • Ex-journo @business • Views my own • RT ≠ endorsement
Joined June 2016
Why are bond yield curves getting more market attention lately? The shape of the yield curve is a key metric that markets watch, as it can have an impact on a range of asset prices and has historically been a signal of the economic outlook. 1/7
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As commodity currencies rise today amid gains in US stock futures, the Australian dollar is leading the way.
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While Indonesian markets were closed for the Eid al-Fitr holiday, stocks and bonds slipped across the region in the wake of the Federal Reserve’s interest-rate increase.
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BUT buying yen would be costly and eat into Japan’s foreign reserves, which stand at ~$1.4 trillion. There's also no guarantee it would work given those reserves are dwarfed by the size of the foreign exchange market, which has daily trading volume in excess of $6.6 trillion 💹
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The Aussie has dropped about 2.7% against the dollar in the past two weeks. Traders may pivot back toward the Aussie as more clarity comes on when the Reserve Bank of Australia will also start to raise rates.
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Russia's reserves peaked at a record $643.2 billion on Feb. 18 and then declined sharply, before stabilizing in recent weeks. Sanctions have cut off access to half of reserves, according to the central bank
Russia’s central bank conceded it’s found no clear alternatives to the world’s major reserve currencies after sanctions left it in possession of only yuan and gold
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Latest: The Monetary Authority of Singapore, which manages its currency exchange rate as its main policy tool, moved to tighten policy on Thursday. The decision will allow the local dollar to appreciate, buffering the impact of imported inflation
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Sri Lanka will expedite talks with the IMF and wants to avoid a hard default, according to its finance ministry. The economic crisis has evolved into a political stalemate, which could potentially complicate efforts to negotiate aid
Sri Lanka suspends payments on some foreign debt and aims to restructure its obligations as it faces dwindling foreign exchange reserves
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However, after the Russian ruble's collapse following the invasion, it has surged all the way back to where it was before Putin invaded Ukraine. It's showing that sanctions are largely toothless if the world keeps guzzling Russian oil and natural gas. 5/5
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Latest: Sri Lanka’s inflation will likely surge to around 20% in the second and third quarters of this year 📈 The country’s crippling inflation has sent the cost of basic goods skyrocketing, and its people are bearing the brunt of it 💸
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