A return to lower yields has been every bond fund manager's dream since the nightmare of 2022. But now, with expectations dashed that they’d get their wish this year, it appears they’ll have to hang their hopes on 2025.

Has the tide turned decisively against King Dollar? A fall of around 5% in the greenback versus major currencies in the past two months, pushing the dollar index to a 13-month low, suggests its post-pandemic surge has meaningfully faltered.

The tricky last yards of closing in on — and then maintaining — the hallowed 2% inflation target that all the major central banks adhere to requires a change of tactics. Over the past two years, a mantra of economic data-dependency has been drummed into us, keeping interest rates higher for longer.

With stock markets plunging around the world, traders are talking up the prospect of an emergency interest-rate cut from the Federal Reserve after the US central bank passed up the opportunity to ease policy last week. Not only is this highly unlikely, it would be counterproductive.

The sorry state of Britain's equity markets has been well-documented. Across all UK indexes there have been just three initial public offerings so far this year after over 100 de-listings in 2023. The noise that this is only the beginning is getting louder.

When does a strong dollar become too strong? “Right now” would be the cry of most emerging-market currencies, not to mention policymakers in Japan. Even the European Central Bank says it’s paying attention to the foreign exchange market.

With the end of great inflation scare in sight, it's time the central bank hive mind contemplated what it might learn from the failure of its economic models.

Gold has definitively broken out of the range it's been stuck in since the start of this decade, reaching a record $2,195 per troy ounce this month.

Slowly but surely the interest-rate jigsaw puzzle is falling into place. Get ready for the much anticipated shift lower in the global monetary policy cycle by mid-year.

The euro celebrates 25 years of virtual existence this month, with its digital creation in 1999 followed by the introduction of physical notes and coins in 2002. It's embedded successfully as the domestic means of exchange within the 20-nation euro zone.

The Federal Reserve won’t want a repeat of 2023 where 10-year Treasury yields soared from a low of 3.3% in April to peak at 5% in October — only to plummet back to 3.8% by year-end.

Albert Edwards, Societe Generale SA's chief global strategist, hasn't been the top-ranked Extel survey macro analyst for the past 20 years because he's an optimist.

Now that inflation is finally decelerating, regulators are increasingly turning their focus to financial stability.

The queue of soothsayers warning of impending doom is lengthening; growing concern about US domestic politics as well as the global economic backdrop risks sparking a full-blown market rout.

"If your only tool is a hammer, every problem looks like a nail." This old saying still rings true as central banks keep ratcheting up the interest-rate pain.

The International Monetary Fund has caused some consternation with the long-range forecasts in its April World Economic Outlook. It predicts that once the current bout of nasty global inflation abates, interest rates will return close to zero.

Central Banks are on the verge of declaring the yearlong interest-rate hiking cycle over. The reason: Banks have taken the wheel and are pressing the brakes.

The dollar has lost some of its luster over the winter. The twin supports of its status as the preferred haven during the pandemic and being backed by the world’s strongest economy are fading.

European governments are set to unleash a deluge of bonds into markets this year. Investors will demand either a further shift higher in yields or a substantial improvement in the region’s inflation outlook to digest the coming wave of supply...

The year isn't yet done with rattling investors' cages. The Bank of Japan’s surprise widening of its yield curve-control policy on 10-year government bonds will have an impact far beyond its shores.

The euro hasn’t been this cheap against the dollar for almost two decades, but it can get cheaper still. The tail risk of Russian gas and oil being suddenly shut off, most likely plunging the European continent into a sharp recession, is too unpredictable for investors to confidently bet on a rebound any time soon.

Federal Reserve Chair Jerome Powell had his foghorn out on Tuesday blaring that there is nothing, repeat nothing, to stop policymakers from yanking interest rates up in half-point steps. His hawkishness prompted the yield curve to flatten to levels not seen since 2016, setting off alarm bells about a potential inversion - where shorter-dated levels rise above longer-term rates - signaling recession.

The head of the Bank for International Settlements, Agustin Carstens, recently set out a dark vision for our financial future, quoting Goethe’s “Faust” and claiming that the “soul” of money was at stake.

With so much monetary stimulus sloshing about, governments even have an eye on getting ahead of next year’s budget plans as well.