Capital Daily We doubt the Treasury rally will last Although the latest US inflation data has extended a Treasury rally that has left yields across the curve at their lows of the year, we think the totality of the data this week actually strengthens... 13th February 2026 · 4 mins read
Capital Daily Is it time for the S&P 500’s non-tech sectors to shine? There are positive signs for earnings outside of the “tech” sectors of the US stock market, which might help them continue to fare well. But we still think tech will do better over the rest of 2026. 12th February 2026 · 4 mins read
Capital Daily Robust US payrolls point to higher Treasury yields The blockbuster US non-farm payrolls report released earlier today strengthens the case for higher US Treasury yields and a rebound in the dollar over the coming months. 11th February 2026 · 4 mins read
Capital Daily Norway no canary in the European sovereign bond coal mine Today’s slump in government bonds in Norway isn’t likely to set the tone for the rest of Europe. 10th February 2026 · 4 mins read
Capital Daily Takaichi’s triumph, UK drama, US data: what it means for markets Calm may be on the way for Japan’s markets now the election is out of the way: we don’t expect a further sell-off in JGBs and forecast a stronger yen. But renewed political turmoil in the UK might be... 9th February 2026 · 6 mins read
Capital Daily Three key questions on the equity market wobble While the US stock market has bounced back today, the ongoing struggles of the previously ascendant tech firms in the wake of another poorly received set of earnings reports raises several tricky... 6th February 2026 · 5 mins read
Capital Daily Weighing up the implications of today’s MPC and ECB meetings A dovish UK MPC meeting prompted big falls in both short-dated Gilt yields and sterling today, whereas there wasn’t so much reaction in the markets to the ECB’s gathering. We think there is scope for... 5th February 2026 · 4 mins read
Capital Daily Struggling software sector won’t burst this bubble We don't think the falls suffered by software stocks in recent days are indicative of waning enthusiasm for AI. We think investors will continue to judge that the benefits accruing from AI will... 4th February 2026 · 4 mins read
Capital Daily Rate cutter’s remorse not a threat to most bond markets Australian bonds have been battered lately, and its currency boosted, by the prospect of the country’s central bank reversing course on monetary easing. But even though it’s now followed through with... 3rd February 2026 · 4 mins read
Capital Daily Warsh for the Fed, war worries recede, greenback wobbles After an unusually hectic few days for financial markets, even by recent standards, here are three key things to watch in the coming week. 2nd February 2026 · 6 mins read
Capital Daily How the nomination of Warsh is being received in the markets The reaction in the markets to Donald Trump’s nomination of Kevin Warsh to be the next Fed Chair is broadly consistent with our view that the president has made a relatively safe choice. 30th January 2026 · 4 mins read
Capital Daily Monetary policy still matters for the greenback We continue to think that a cautious Fed will mean Treasury yields rise a little and the US dollar strengthens, despite recent developments in the latter. 29th January 2026 · 5 mins read
Capital Daily We doubt US equity underperformance will last US equities had been struggling to make headway against those elsewhere in recent months and have now begun underperforming significantly, even as US indices climb to fresh highs. While this has... 28th January 2026 · 3 mins read
Capital Daily Four key points on Bessent’s intervention gambit As the dollar continues to drop in the wake of intervention chatter, here are four key takeaways from an extraordinary few days. 27th January 2026 · 4 mins read
Capital Daily Plenty to worry markets even if the Fed is uneventful It looks set to be a fairly quiet Fed meeting this week as far as markets are concerned, and perhaps even a quiet year on the policy front despite the background noise. But there are plenty of other... 26th January 2026 · 6 mins read
Capital Daily What could the BoJ do to help the JGB market? While today’s BoJ meeting was fairly uneventful, with no big impact on Japanese financial markets besides some significant volatility in the yen during Governor Ueda’s press conference, that may not... 23rd January 2026 · 5 mins read
