FastBull 2024 Trading Influencers Awards Singapore Winners Announced! Reserve Your Free Tickets for the Ceremony on March 30 Now!

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FastBull 2024 Trading Influencers Awards Singapore has officially concluded the voting on March 1! This exclusive event honors the winning traders and investors and offers unparalleled networking opportunities.

FastBull 2024 Trading Influencers Awards Singapore Winners Announced! Reserve Your Free Tickets for the Ceremony on March 30 Now!_1

The award ceremony will take place on March 30, 2024, at the Holiday Inn Singapore Orchard City Centre. There, FastBull will present the winners with trophies and certificates to honor their achievements. The ceremony will also feature keynote speeches, networking opportunities for the attendees, etc.

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FastBull 2024 Trading Influencers Awards Singapore Winners Announced! Reserve Your Free Tickets for the Ceremony on March 30 Now!_2

FastBull 2024 Trading Influencers Awards Singapore Winners Announced! Reserve Your Free Tickets for the Ceremony on March 30 Now!_3

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Owen Li

Bond

Economic

Private loans are a safer bet than the risky, publicly-traded bonds if the US economy stumbles, a majority of respondents in the latest Bloomberg Markets Live Pulse survey said.

Private credit generally involves lending directly to companies at higher rates than publicly-syndicated bond and loan markets offer. Those making such loans say that they can glean more information about a borrower by going direct, and secure better claims on assets if it struggles to pay back. That's part of the reason why more than half of 387 respondents see it as a better place to shelter than the junk bonds when the next recession hits.

The MLIV Pulse survey highlights a bearish outlook for high-yield bonds, with spreads on the debt predicted to widen to about 450 basis points over Treasuries in 12 months. That compares with just above 316 bps currently and would mark a selloff to levels last seen in the middle of last year, around the time of the 2023 regional banking crisis.

That risk-off move in more public debt markets reflects survey respondents' expectations of a rise in missed debt payments by cash-strapped companies. About 90% of survey participants predict a default rate will keep rising, after it surged to about 4.7% in US junk bonds, according to S&P Global Ratings. Still, most don't expect that to impact financial markets more broadly.

More than 40% said private credit is most likely to perform best in credit over the next 12 months. And that's despite a majority also predicting weaker returns and lower quality in direct loans, as competition between lenders intensifies. Private Credit Is Seen Offering Shelter from Storm_1

Private Credit Is Seen Offering Shelter from Storm_1

Because the debt is usually offered at a floating rate, investors benefit when underlying interest rates stay high. It also doesn't trade very much — if at all — making the loans hard to value, but also less volatile in investors' portfolios when global markets get choppy.

US junk bonds and leveraged loans have returned about 12% over the last 12 months, compared with a roughly 32% return for the S&P 500. Private debt investors expect to generate returns in the high teens without the volatility typically seen in publicly-traded debt and equity markets.

The US$1.7 trillion (RM8.04 trillion) private credit boom is drawing criticism — and the attention of regulators — for its lack of transparency and perceived mispricing of risk. But the preferences highlighted by the survey show investors positioning for a protracted period of elevated base rates and volatility in other asset classes.

The worry for some investors is that it's hard to see when borrowers fail to pay on time because lenders can negotiate ways to keep them afloat. That's a particular concern when high-risk companies face bigger debt payments, slumping earnings and a looming maturity wall. Some fear it's a bubble that could burst, inflicting pain elsewhere.

On that note, most survey respondents predict that private credit margins and covenant quality will decline over the next 12 months as public markets compete more fiercely for business. High-yield bond and leveraged loan issuance has picked up this year, with demand from yield-chasing investors helping to make those markets more attractive to US corporate buyers.

Source: Bloomberg

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Thomas

Economic

Stocks

So far, so good! My 2024 outlook called for a good-to-great year, and the 4.8 per cent global returns up until February 27 speak to just that. More gains await.

One key reason? Sentiment. Stocks always move most on the gap between reality and expectations, so gauging the latter is key to any outlook.

There are hard ways to assess this. But also easy ones anyone with web access can do.

Today, easy or hard, both methods reveal dourness dominates – paving the bullish road forward.

Legendary investor Sir John Templeton famously said: “Bull markets are born on pessimism, grow on scepticism, mature on optimism and die on euphoria.”

Recent years are examples: After 2020's rocket ship market recovery from Covid lockdown lows – itself born in despair – sentiment warmed unusually fast in 2021.

Frothy pockets emerged in speculative assets like crypto and special purpose acquisition company initial public offerings, making stocks susceptible to negative surprises.

Then came Ukraine, inflation, central bank rate hikes, supply chain chaos and more. The result? The small-sized bear market in 2022.

Yet, by October 2022, long-running fears drove irrational pessimism, ushering in the positive surprise that birthed this beautiful bull market.

Now, sentiment has warmed somewhat – to scepticism.

Consider this: The Bank of America's February fund manager survey revealed the most bullishness since January 2022, while many other surveys show similar outlooks.

Yet, bears take this too far, arguing that we fast-forwarded to optimism … even euphoria!

They point to stale fears like the Israel-Gaza war and eurozone economic weakness as “evidence” investors are too cheery, setting stocks up to fall – while claiming only a handful of stocks (the Magnificent Seven) underpin this bull market.

Wrong! Nearly a third of global stocks lead the world in the year-to-date.

So, how can you see sentiment relatively clearly? One tough way my company does, but you probably can't replicate, is illustrative: Plotting professional sentiment bell curves.

Wall Street forecasts both reflect and influence sentiment. My company collects dozens of them from everywhere.

The aim? Revealing which outcomes are widely expected and discussed … and which aren't. This doesn't reveal what will happen – stocks pre-price common forecasts and do something different.

But it shows what people think will happen and hence is already priced in stocks – a sentiment signal.

Consider median S&P 500 forecasts versus actual returns in recent years: At 2018's start, the median forecast saw 5.3 per cent gains excluding dividends. Reality? Stocks fell 6.2 per cent.

In 2019, the median was 15.8 per cent gains – yet stocks crushed it, rising 28.9 per cent.

Last year's forecasts versus expectations were at 9.4 per cent, way below the actual 24.2 per cent.

Starting this year, the median was just 1.8 per cent – way below US stocks' long-term 10.2 per cent annualised average return without dividends, which includes bear markets. It's hard to see 1.8 per cent as “too optimistic”.

Don't stop at median forecasts. Look deeper.

Out of 54 professional S&P 500 2024 forecasts, 40 cluster between 2.9 per cent and 9 per cent returns – while nine see declines worse than 3 per cent. None see returns exceeding 17.1 per cent.

The greater prevalence of lacklustre or negative returns than double-digit gains show you sentiment isn't near euphoria. It is middling at most.

The relative void above 10 per cent suggests above-average gains. All this is hard to do.

There are easier tools you can use. One: Track how economic data compares to estimates.

You can find consensus forecasts for global gross domestic product, inflation, employment, purchasing managers' indexes and more on many financial and economic news websites.

Then, as outcomes are announced, compare the results to the expectations. Are they worse than expected? Then, sentiment is probably too optimistic.

Are they better? Too dour! As expected? In the middle.

Recently, most key data are trending above estimates – thanks to lingering inflation and recession fears.

Another way: Consider IPOs. I have long said IPO actually means “It's probably overpriced”, given companies do IPOs when prices are best for sellers (founders and early investors) – not buyers.

Heavy issuance usually follows a big rise, when recent returns boost spirits and elevate demand, allowing top dollar pricing.

Earlier IPO successes often fan optimism further, leading to more lower-quality listings flooding markets.

Hence, sunny sentiment is detached from weakening fundamentals.

The Middle East's strong 2023 was an exception to the global IPO desert.

Now? US and European issuances are up from last February, and analysts see more ahead.

But issuance remains muted overall – revealing scepticism, maybe some optimism but certainly not euphoria.

Many companies issuing shares lately use the proceeds to retire costlier debt. Plus, today's IPOs are more established – think ARM and Shein – unlike 2021's speculative Spacs.

Nothing euphoric there.

Whether you choose easy or hard methods, tracking sentiment is key. Today, it all signals more gains ahead.

Source: The National News

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Alex

Economic

Bond

Seemingly endless demand for U.S. top-rated corporate debt has created unease among some investors who think a selloff could be on the cards if liquidity conditions worsen later this year.

Expectations of a benign outcome for the U.S. economy despite high interest rates have fuelled a search for yields and supported demand for credit. So far this year investment-grade rated companies have raised record amounts of debt while credit spreads, or the premium companies pay over U.S. Treasuries for issuing bonds, are at their tightest in years.

Yet some in the market suspect optimism around the asset class could make it vulnerable to a repricing once the Federal Reserve's efforts to tighten financial conditions start biting into bank reserves left so far unscathed because of excess liquidity in the financial sector.

Inflows into the Fed's overnight reverse repo facility, a proxy for excess cash in the financial system, have been declining sharply over the past year.

Once cash drains from the reverse repo facility, bank reserves at the Fed are expected to start falling, tightening overall financial system liquidity and potentially hitting demand for risk assets such as stocks and credit.

Daniel Krieter, director of fixed income strategy at BMO Capital Markets, said he has observed a strong relationship between the level of excess bank reserves and investment-grade credit spreads, which tend to tighten when reserves rise.

"The level of excess reserves in the system, we think, matters for risk," said Matt Smith, fund manager at Ruffer. "Liquidity is going to tighten from here, and on top of that everything is very expensive ... a sharp selloff is something we expect and are positioned for," he said.

Estimates vary as to when the reverse repo facility will be depleted. Some analysts expect it to happen between May and July this year, even though benign market conditions in U.S. funding markets in recent weeks suggest the process may take longer.

'Frothy' Markets

To be sure, expectations that demand for credit would wane have been proven wrong over the past few years, with the risk of corporate debt defaults fading as the economy showed surprising resilience despite interest rates at their highest in decades.

Investment-grade rated companies have raised a record $395 billion so far this year, and order books on new bonds have been on average three to four times oversubscribed, allowing companies to pay little to no spread premium on any new bonds, according to Informa Global Markets data.

"The combination of Treasury yields still at relatively high levels and conservatively managed corporate balance sheets, is driving liquidity into high quality bonds," said Jonathan Fine, head of investment-grade syndicate at Goldman Sachs.

Barring any unexpected event, credit spreads could widen should the economy slow down but that is likely to happen gradually. "Risks on the horizon are in fact incentivizing corporate issuers to raise debt now rather than later," he said.

For Mark Rieder, CEO at La Mar Assets, a credit hedge fund, “frothy” credit markets did not mean exiting credit completely.

"Just build a margin of safety at a time when tight credit spreads make future returns more challenging," he said, adding investors should put on interest rate hedges, upgrade the quality of their portfolio and build cash.

Still, even in case of continued economic strength, lower liquidity when interest rates remain high could accelerate a decline in bank reserves as investors have more incentive to park money in high-yielding cash, worsening a possible selloff, said Smith at Ruffer.

He said he saw the potential for a "1987-style market crash, so it's not one where we think there are big problems in the economy, it's more like an endogenous event."

"It could be quite quick, but that doesn't seem impossible to us."

Source: Reuters

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Samantha Luan

Economic

Stocks

Forex

Market sentiment was clearly mixed in Asian session today, highlighted by Nikkei's remarkable resilience and Hong Kong's stocks' downturn. The day commenced with Nikkei momentarily succumbing to profit taking pressure, dropping below 40k mark after Tokyo's CPI was reported to have risen to 2.5%. This initial dip, however, was short-lived as the index swiftly recaptured its losses, soaring back above 40k psychological by the afternoon. This swift recovery not only showcases the robust confidence permeating among investors but also suggests that speculations of an imminent market correction might be premature. It appears that the bullish momentum engulfing the index is likely to sustain at least until BoJ clarifies its stance on interest rate hikes at the meeting later this month.

On the other hand, Hong Kong's equity market faced significant setbacks, as reaction to Chinese Premier Li Qiang's economic outlook announcements. The setting of a somewhat conservative GDP growth target at around 5% for the year, coupled with consumer price inflation goal of about 3%, has been interpreted by some economists as a tacit acknowledgment of the prevailing economic challenges. Additionally, the central government's decision to cap deficit at 3% of GDP indicates a reluctance to deploy substantial fiscal stimulus, further tempering expectations of aggressive economic interventions.

In the currency markets, Australian and New Zealand Dollars are languishing as the day's underperformers sofar, trailed by Canadian. Conversely, Dollar and Yen carved out modest gains, with Euro not far behind in performance. Sterling and Swiss Franc found themselves mixed in a middle path. Attention in the forex markets now turns towards upcoming US ISM Services data, with particular emphasis on price and employment components, in addition to the headline figure.

Technically, focus in AUD/USD is back on 0.6486 temporary low after rejection by 55 4H EMA. Break there will resume the fall from 0.6594 to retest 0.6442 low first. Firm break there will resume whole decline from 0.6870 for 61.8% projection of 0.6870 to 0.6442 from 0.6594 at 0.6329 next.

Nikkei's Resilience Contrasts with Hong Kong's Setback, US ISM Services Watched_1

In Asia, at the time of writing, Nikkei is up 0.21%. Hong Kong HSI is down -1.95%. China Shanghai SSE is up 0.26%. Singapore Strait Times is down -0.39%. Japan 10-year JGB yield is down -0.004 at 0.712. Overnight, DOW fell -0.25%. S&P 500 fell -0.12%. NASDAQ fell -0.41%. 10-year yield rose 0.039 to 4.219.

Fed's Bostic: No sequential rate cuts and highlights risks of pent-up exuberance

Atlanta Fed President Raphael Bostic emphasized the necessity of seeing "more progress" on inflation reduction before considering any rate cuts. He said overnight that the prosperity in the labor market and the economy, granting the FOMC the "luxury of making policy without the pressure of urgency."

In terms of the pace of policy loosening once initiated, Bostic envisages a measured approach rather than "back to back" adjustments. The reaction of market participants, business leaders, and households to policy changes will critically influence the pace of rate cuts.

Highlighting ongoing inflation concerns, Bostic pointed out the continued price increases in a significant portion of goods and services at rates exceeding 5% annually. Moreover, a Dallas Fed measure indicated that underlying inflation remains slightly above Fed's target at 2.6%, further complicating the path towards rate normalization.

Bostic also reflected on the feedback from business executives, noting a widespread strategy of holding back investments and hiring until more favorable conditions emerge. He warned of the "pent-up exuberance" that could result from a large-scale unleashing of this dormant capacity, introducing a new variable of upside risk to the economy.

Japan's Tokyo CPI core rises to 2.5% yoy, PMI services finalized at 52.9

Japan's Tokyo CPI core (ex-fresh food) rose from upwardly 1.8% yoy to 2.5% yoy in February, matched expectations. CPI core-core (ex-food and energy) slowed from 3.3% yoy to 3.1% yoy. Headline CPI in the capital city rose from 1.8% yoy to 2.6% yoy.

Also released, PMI Services was finalized at 52.9 in February, down from January's 53.1, but stays in expansion for the 18th month in a row. PMI Composite was finalized at 50.6, down from prior month's 51.5.

According to Usamah Bhatti, Economist at S&P Global Market Intelligence,services business activity growth was sustained into February while the rate of growth in new business accelerated to a six-month high. However, steeper reduction in manufacturing output levels contributed to a slowdown in overall private sector activity growth.

China's Caixin PMI services falls to 52.5, composite unchanged at 52.5

China's Caixin PMI Services fell from 52.7 to 52.5 in February, below expectation of 52.9. PMI Composite was unchanged at 52.5.

Wang Zhe, Senior Economist at Caixin Insight Group, noted that both manufacturing and services sectors recorded steady growth. However, he noted supply was "still running ahead" of improved demand. Employment across both sectors saw contraction. On the pricing front, pressures of low prices becoming more pronounced within the manufacturing sector.

Overall, "market sentiment remained optimistic", Wang noted.

Looking ahead

Eurozone PMI services final and PPI will be released in European session. UK will also publish PMI services final. Later in the day, US ISM services will take center stage while factory orders will also be featured.

USD/JPY Daily Outlook

No change in USD/JPY's outlook as consolidation from 150.87 is extending. Intraday bias stays neutral for the moment. On the upside, break of 150.87 will resume the rise from 140.25 to 151.89/93 key resistance zone. On the other hand, considering bearish divergence condition in 4H MACD, firm break of 149.20 will confirm short term topping at 150.87. Deeper fall would be seen to channel support (now at 148.60) and possibly below, even as a corrective move. Nikkei's Resilience Contrasts with Hong Kong's Setback, US ISM Services Watched_2

Nikkei's Resilience Contrasts with Hong Kong's Setback, US ISM Services Watched_2

In the bigger picture, rise from 140.25 is seen as resuming the trend from 127.20 (2023 low). Decisive break of 151.89/.93 resistance zone will confirm this bullish case and target 61.8% projection of 127.20 to 151.89 from 140.25 at 155.50. However, break of 148.79 resistance turned support will delay this bullish case, and extend the corrective pattern from 151.89 with another falling leg. Nikkei's Resilience Contrasts with Hong Kong's Setback, US ISM Services Watched_3

Nikkei's Resilience Contrasts with Hong Kong's Setback, US ISM Services Watched_3

Source: ActionForex

To stay updated on all economic events of today, please check out our Economic calendar

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Economic

Stocks

Central Bank

After locking in a fourth month of gains, the DAX starts a new week riding high into this week's European Central Bank (ECB)’s monetary policy meeting.

The ECB remains one of the front runners amongst other central banks, expected to start a rate-cutting cycle following an encouraging fall in inflation. However, like the Fed, the ECB has gone to great lengths to remind us that the battle against inflation is not yet over.

Brushing off the ECB's warning, the DAX has glided onwards and upwards, benefitted from a resurgence in global manufacturing, a positive shift in sentiment towards China, and the resolution of the energy shock triggered by the Russian invasion of Ukraine.

What is expected from the ECB interest rate decision (Friday, 8 March at 12.15am)

At its last meeting in January, the ECB kept its deposit rate on hold at 4.00% for the third time since its last rate hike in September.

The statement reiterated its message from December that "future decisions will ensure its policy rates will be set at sufficiently restrictive levels for as long as necessary." Within the statement, there was some encouragement for the doves, as President Lagarde acknowledged that the rise in inflation in December was less than expected and noted that the Governing Council is data-dependent, rather than date-dependent.

The minutes from the January ECB meeting, released in mid-February, underscored a widespread consensus that it was premature to broach the subject of rate cuts, emphasising the fragile nature of the disinflationary process. This sentiment was reinforced by hawkish remarks in late February from ECB Governing Council members Stournaras and President Lagarde, who echoed, "We are not there yet" regarding inflation.

As such, while the ECB is expected to lower its inflation and growth forecasts marginally, it is expected to keep rates on hold this month. Ahead of the meeting, 90bp of ECB rate cuts are projected for 2024, with a first-rate expected in June. DAX Hits Record Highs Ahead of ECB Meeting, Awaiting Key Rate Decision_1

DAX Hits Record Highs Ahead of ECB Meeting, Awaiting Key Rate Decision_1

DAX technical analysis

Last week saw the DAX surge a cool 4.44% to a fresh record high at 17,847.

While the DAX is well and truly overnight in the short term, it would need to see a sustained break below uptrend support at 17,250 from the October 14,666 low and below a cluster of horizontal support at 17,100, to indicate that a deeper pullback towards the 200-day moving average at 16,174 is underway.

Until then, dips are likely to be well-supported initially towards 17,500 and then at 17,300/250 by buyers leaning against uptrend support looking for a push towards 18,000. DAX Hits Record Highs Ahead of ECB Meeting, Awaiting Key Rate Decision_2

DAX Hits Record Highs Ahead of ECB Meeting, Awaiting Key Rate Decision_2

FTSE technical analysis

At the risk of sounding like a broken record, the FTSE starts the new week below resistance at 7750/65ish, which has capped for the past nine months. If the FTSE can see a sustained break above 7750/65ish, it would warrant a positive bias and open up a test of the April 7936 high, with scope to the 8047 high.

However, while the FTSE trades below resistance at 7750/60ish, there remains a high likelihood of further rotation towards the support at 7550/00, coming from the 200-day moving average and the mid-February 7492 low. DAX Hits Record Highs Ahead of ECB Meeting, Awaiting Key Rate Decision_3

DAX Hits Record Highs Ahead of ECB Meeting, Awaiting Key Rate Decision_3

To stay updated on all economic events of today, please check out our Economic calendar

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Alex

Economic

Bond

With borrowing costs elevated by the Fed's most aggressive interest rate-hiking cycle in 40 years and expected to stay high, there are fears that firms with the lowest credit ratings will struggle to refinance, potentially spreading a wave of defaults and financial distress over the wider economy.

Some of the numbers are certainly eye-catching.

Nearly $1.5 trillion of high-yield debt, including loans, is maturing globally through the end of 2026, of which $882 billion is U.S. debt, according to S&P Global.

Of that, $338 billion is in bonds: $53.8 billion maturing this year, $125.5 billion next year, and $158.6 billion in 2026.

These are large amounts of debt for companies having to refinance at potentially double the original rate. But early indications show they are managing to do just that.

And there are reasons to believe they can successfully navigate the path ahead too: the economy is showing no sign of rolling over, attractive yields are bringing lenders back, while cooling inflation keeps rate cuts on the table.

It's a favorable set of conditions for junk-rated firms, which tend to begin rolling over their debt earlier than cash-rich investment-grade firms, around 12 months before maturity.

S&P Global research shows non-financial firms globally last year reduced 2024 maturities by 44%, lowered 2025 maturities by 27%, and even started trimming 2026 maturities by 6%.

Looking solely at corporate bonds, excluding loans, the 2024 'maturity wall' was reduced by 13% last year and the 2025 wall was lowered by 6%. This has continued in the first two months of this year.

"In our view, the maturity wall is not a significant risk over the next 12 months," said Amanda Lynam, head of macro credit research at BlackRock. U.S. Junk Bond Maturity Wall Not as High as Feared_1

U.S. Junk Bond Maturity Wall Not as High as Feared_1

I Can CCC For Miles

Lynam also notes two other encouraging signals for the high-yield market: Default rates may be plateauing and there is an increased willingness to lend to the lowest quality borrowers.

Default rates on junk-rated corporate bonds, those with a BB- credit rating or lower, look to have leveled off in recent months around 4%. That in itself is a pretty low level historically, certainly relative to previous episodes of wider economic or financial stress when they reached 8% at a minimum.

Default rates may well rise further but not that far, barring an unforeseen shock. Analysts at S&P Global expect the U.S. trailing-12-month 'junk' corporate default rate to reach 4.75% by the end of this year.

After a near-uninterrupted, two-year hiatus since the Federal Reserve began its policy tightening cycle in March 2022, CCC-rated U.S. borrowers are issuing debt again. They feel confident coming back to the market, but lenders are also prepared to lend to them again. U.S. Junk Bond Maturity Wall Not as High as Feared_2

U.S. Junk Bond Maturity Wall Not as High as Feared_2

U.S. Junk Bond Maturity Wall Not as High as Feared_3

The resilience of the junk bond market - yield spreads over Treasuries are the narrowest in two years - indicates that the economy's glide path to a 'soft landing' or even 'no landing' has perhaps been hiding in plan sight all along.

While the deeply inverted yield curve, soured consumer confidence and other time-honored recession markers have long flagged a pending downturn, the high-yield bond market has been flashing completely opposite signals.

'Junk' bonds are often among the first assets investors dump when rising interest rates start to bare their teeth, credit conditions become too tight, and the good times on Wall Street and Main Street come to a halt. Sometimes a crashing halt.

But if 'higher for longer' borrowing costs are a headwind for junk, 'stronger for longer' economic growth is an even more powerful tailwind.

"We view a stronger economy as more favorable for credit quality as it should help support issuers' revenue and growth, which can help offset higher borrowing costs," said Evan Gunter, director, Credit Research & Insights, at S&P Global Ratings.

Tougher Test In 2028

Junk-rated companies don't have the cash buffers to see them through the bad times that investment-grade companies do, so they are more reliant on good old-fashioned growth to ensure they can meet their borrowing needs.

To be sure, these needs will become more pressing in a few years' time when post-pandemic borrowing starts to mature. According to S&P Global, the global high-yield maturity wall in 2028 will be $1 trillion, higher than the investment-grade wall.

That may scare the horses. But there's a long way to go before then.

As Michael C. Eisenband, global co-leader of corporate finance & restructuring at FTI Consulting, points out, every bout of 'maturity wall' panic in markets or the media in the past 15 years has passed off without incident.

Super-loose Fed policy and trillions of dollars of quantitative easing might have helped, of course, but he has a point.

"Much like other feared apparitions such as the Loch Ness monster and Sasquatch, the maturity wall is visible at great distance but never up close," he wrote last month. U.S. Junk Bond Maturity Wall Not as High as Feared_4

U.S. Junk Bond Maturity Wall Not as High as Feared_4

Source: Reuters

To stay updated on all economic events of today, please check out our Economic calendar

Risk Warnings and Disclaimers

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Private Credit Is Seen Offering Shelter from Storm

Source: Bloomberg

How Investor Sentiment Can Move Markets

Source: The National News

US Corporate Debt Euphoria Could Stall as Fed Tightens Liquidity

Source: Reuters

Nikkei's Resilience Contrasts with Hong Kong's Setback, US ISM Services Watched

Fed's Bostic: No sequential rate cuts and highlights risks of pent-up exuberance

Japan's Tokyo CPI core rises to 2.5% yoy, PMI services finalized at 52.9

China's Caixin PMI services falls to 52.5, composite unchanged at 52.5

Looking ahead

USD/JPY Daily Outlook

Source: ActionForex

DAX Hits Record Highs Ahead of ECB Meeting, Awaiting Key Rate Decision

What is expected from the ECB interest rate decision (Friday, 8 March at 12.15am)

DAX technical analysis

FTSE technical analysis

U.S. Junk Bond Maturity Wall Not as High as Feared

Source: Reuters

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Recent Searches

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FastBull 2024 Trading Influencers Awards Singapore Winners Announced! Reserve Your Free Tickets for the Ceremony on March 30 Now!

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Private Credit Is Seen Offering Shelter from Storm

Source: Bloomberg

How Investor Sentiment Can Move Markets

Source: The National News

US Corporate Debt Euphoria Could Stall as Fed Tightens Liquidity

Source: Reuters

Nikkei's Resilience Contrasts with Hong Kong's Setback, US ISM Services Watched

Fed's Bostic: No sequential rate cuts and highlights risks of pent-up exuberance

Japan's Tokyo CPI core rises to 2.5% yoy, PMI services finalized at 52.9

China's Caixin PMI services falls to 52.5, composite unchanged at 52.5

Looking ahead

USD/JPY Daily Outlook

Source: ActionForex

DAX Hits Record Highs Ahead of ECB Meeting, Awaiting Key Rate Decision

What is expected from the ECB interest rate decision (Friday, 8 March at 12.15am)

DAX technical analysis

FTSE technical analysis

U.S. Junk Bond Maturity Wall Not as High as Feared

Source: Reuters

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