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June 8, 2024 | Trading Desk Notes For June 8, 2024
Check your old-school assumptions at the door Market sentiment has been oscillating between believing that “higher for longer” is 1) dead or 2) will be indefinitely sustained. The oscillation frequency has shrunk from months (during the October to February period) to days (since mid-April), and this week, sentiment swung from pillar to post between Monday and […]
June 1, 2024 | Trading Desk Notes For June 1, 2024
Let the cuts begin The Bank of Canada may announce a 25bps cut (from 5.25%) on Wednesday (markets are pricing a 75% chance), and the ECB is expected to announce a 25bps cut (from 4.50%) on Thursday. The Fed is not likely to cut rates at its June 12 meeting. The net speculative short positioning in Canadian dollar futures is […]