海外研报

The Yen’s Mysterious Weakness — A Search for Answers (Fishman/Kanter)

The strikingly close relationship between USD/JPY and real rate differentials overthe past few years has come into question in recent weeks. While there havebeen prior periods of dislocation, none have looked as persistent and prominent

China+ Chartbook September 2024

China’s August activity data confirmed the insipid domestic demand picture, as retail sales and fixed asset investment growth slowed, despite a

USD Rates Chart Pack: Futures Positions & Curve Analysis

The report captures the US Commodity Futures Trading Commission (CFTC)’s Commitment of Traders (COT) data oninvestor positions in futures at aggregate levels as well as by maturity sectors.

Abrupt Cut To Underweight

Aggregateequitypositioningplungedthis week, falling from a mid-Julypeakat the top ofthe historical range (z score 1.00, 97th percentile) to belowaverage orunderweight (z score -0,26, 31st percentile). This marked one ofthe steepest declines in recent