ETF Securities Research Blog

Can the Fed maintain its credibility?

Market expectations for the Fed’s interest rate trajectory are now in line with the central bank’s ‘dot plot’, after being in sharp divergence in recent years. With the market pricing in an FOMC rate hike with almost certainty, the Fed’s credibility is on the line.

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Macron the centrist-populist

Macron’s centrist ideas are increasingly appealing to a French electorate that is used to frequent and sclerotic shifts in the government between the left and right. We believe the French OAT – German Bund 10-year spread is likely to tighten further as Macron rises in the polls. Read more…