FX Markets Update Why is the yen still so weak? The Japanese yen continues to suffer from the wide monetary policy gap between Japan and other major economies. We think that gap will gradually narrow and the yen recover some ground over the next... 14th November 2025 · 5 mins read
Capital Daily Tech share meltdown, end of the shutdown? Jitters around US tech stocks reinforce the extent to which the market has become reliant on continued AI optimism. We see little on the fundamentals, though, that points to an imminent bursting of... 10th November 2025 · 5 mins read
Capital Daily Tariffs under threat: what it might mean for markets The abolition of tariffs justified under the International Emergency Economic Powers Act would be bad news for Treasuries, and perhaps not as good for the US dollar and stock market as it might seem. 6th November 2025 · 4 mins read
Japan Chart Pack Japan Chart Pack (Nov. 25) Our Japan Chart Pack has been updated with the latest data and our analysis of recent developments. GDP growth will slow from its current above-trend rate to a more sustainable pace. However, with... 6th November 2025 · 1 min read
Asset Allocation Chart Pack Interactive Markets Chart Pack We have updated our Interactive Markets Chart Pack with our views on the latest developments in global markets, and how we expect them to perform over the coming years. Note: This Chart Pack is... 3rd November 2025 (Updated 3rd November 2025) · 1 min read
Capital Daily AI rally keeps on trucking in spite of the Fed A more hawkish tone from the Fed and a mixed reaction to recent big tech earnings reports presents another potential speedbump for risky assets. Ultimately, we think continued robust US growth... 3rd November 2025 · 6 mins read
FX Markets Weekly Wrap FOMC strikes back; dollar rebound has further to go The dollar has continued to strengthen in the wake of a relatively hawkish message from the FOMC. Combined with a generally more neutral stance from other central banks this week, that has taken the... 31st October 2025 · 6 mins read
Emerging Markets Financial Risk Monitor EM Financial Risk Monitor (Oct. 2025) EM financial markets have continued to perform well in the past quarter, with currencies holding firm against the US dollar and sovereign bond spreads narrowing in many places. This has been supported... 29th October 2025 · 1 min read
Africa Chart Pack Africa Chart Pack (Oct. 2025) Our Africa Chart Pack has been updated with the latest data and our analysis of recent developments. GDP growth across Sub-Saharan Africa is set to accelerate over the next couple of years supported... 29th October 2025 · 0 mins read
Capital Daily Takaichi, Bessent and the yen tug of war The Japanese yen has rebounded a bit today on the back of US Treasury Secretary Bessent’s latest foray into verbal currency intervention (this time in favour of the yen), but it remains near its... 28th October 2025 · 5 mins read
Capital Daily ‘Au’ revoir, gold We doubt the recent pull-back in the price of gold will be unwound. Indeed, our new forecast is that the price will fall to $3,500/oz. by the end of 2026. 27th October 2025 · 4 mins read
Latin America Economics Update Answering your questions on Argentina’s mid-terms The larger-than-expected victory for Argentina’s President Milei in Sunday’s mid-term elections has sparked a rally in Argentinian financial markets. Our initial response to the election can be found... 27th October 2025 · 5 mins read
FX Markets Weekly Wrap Dollar still on the front foot despite soft US CPI The dollar has edged higher over the week as a whole despite the soft US CPI data released earlier today. Even so, the DXY index remains a touch below its recent peak two weeks ago, before the re... 24th October 2025 · 6 mins read
Capital Daily ‘Takaichinomics’ and Japan’s financial markets Japan’s new Prime Minister is a strong supporter of the ‘Abenomics’ reforms that had a big effect on the country’s financial markets a bit over a decade ago. But we think they – especially JGBs and... 22nd October 2025 · 4 mins read
Emerging Markets Economics Update Dollar recovery only part of the story for EM FX After a relatively good run, we think EM currencies will generally depreciate over the coming quarters as the US dollar recovers. Heavily managed currencies in high-inflation economies like the... 21st October 2025 · 3 mins read
