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  1. DM

    Metzler nominated for the award “Currency Manager of the Year 2020”

    Metzler has been nominated for the award “Currency Manager of the Year 2020“ based on its successful currency strategy. The winners will be announced at the 13th "European Pension Awards" on December 10, 2020 in London. These awards recognize investment companies, advisors and service providers...
  2. DM

    The end of a brutal first quarter on the financial markets

    That's it. We have put the first quarter of fiscal 2020 behind us. It has certainly not been an easy one for the markets. A glance at the performance of the major stock indices drives this fact home: The Dow Jones has lost almost a quarter of its value, the S&P 500 exactly a fifth. Even the...
  3. DM

    What is CLS? How does settlement via CLS work?

    The CLS Group is an American institution founded in 2002 that specializes in the secure settlement of FX transactions. CLS stands for Continuous Linked Settlement. The added value of CLS is that the participating firms can largely eliminate the settlement risk when trading among themselves...
  4. DM

    Tuesday brings a recovery on the stock markets. But the US threatens to become the new trouble spot.

    After market participants have processed the stimulus package from the Federal Reserve, there was no calm on Tuesday, but many asset classes were able to recover strongly at times. The Dow Jones Industrial Average, for example, rose an impressive 11.3%, while the Euro Stoxx 50 also posted a gain...
  5. DM

    S&P 500 lower despite record support from the Federal Reserve

    After the interest rate cuts that have already been made and the support measures that have already been announced in recent days, the Federal Reserve has made an effort today not to leave any questions unanswered by taking out its bazooka. For as of today, the Fed is available for "unlimited"...
  6. DM

    An overview of worldwide rescue packages after a catastrophic stock market week

    Last week was brutal for the international financial markets. The MSCI World index closed 2.5% lower on Friday, losing over 12% for the second consecutive week. The broad Dow Jones Industrial Average was hit even harder with a weekly loss of 17%. The losses were modest in Europe, where all...
  7. DM

    US dollar purchases continue. Base swaps more expensive again

    Thursday will not bring any real relief either, as market participants try to understand the consequences of the precautions taken by governments around the world on the one hand and the impact on the global economy on the other. Asian markets were hit by heavy losses overnight; the KOSPI stock...
  8. DM

    Safe havens sought. Liquidity is in demand

    The situation on the world's stock markets remains extremely tense on Wednesday. European stock indices are currently trading 5% lower, without any ambition to move up. The American stock market is also expected to open about 5-6% down, according to futures. Gold, to the surprise of many...
  9. DM

    Corona gives us a "Black Monday" in March 2020

    Also at the beginning of the new trading week, stock markets around the world collapsed, along with the oil price and the gold price. Investors are turning their backs on riskier investments and are currently seeking liquidity above all else - despite negative interest rates. All this is giving...
  10. DM

    Second emergency Fed rate cut of 100 basis points sends an alarming signal

    The Fed's repeated interest rate cut this Sunday night by 100 basis points to a target corridor of 0 to 0.25% and the announcement of a balance sheet expansion of at least USD 700 million did not do much to calm the markets. Already in a first move, stock futures opened during the night with...
  11. DM

    Fed rate cut will not cushion Corona's impact on the global economy

    After the Federal Reserve cut its key interest rate surprisingly sharply by 50 basis points yesterday, equities initially reacted positively. However, the picture turned quickly: at the end of the day, the American stock index was down, while American government bonds were in strong demand and...
  12. DM

    Coronavirus holds the markets firmly in its grip

    The coronavirus Covid-19 keeps the markets firmly in its grip. While equity indices have fallen 10-15% from their highs and the price of gold has risen, volatility has recovered from historical lows in many asset classes. Meanwhile, market participants are closely watching central banks and...
  13. DM

    Forum access for guests and registered members explained

    While browsing this forum as a guest, you might have stumbled upon certain sections where you can see other members' threads but you cannot read the thread contents or create your own threads. That is because we have made these sections available for registered members only. The good news, if...
  14. DM

    The week ahead in FX: 16-20 September 2019

    With the ECB behind us, it's all about the Federal Reserve's FOMC meeting on Wednesday, 18 September 2019. The FOMC is expected to follow the ECB and lower the Fed funds rate corridor by 25 basis points to 1.75-2.00% from 2.00-2.25% previously. This would obivously be welcomed by Donald Trump...
  15. DM

    FXall sees growth in algo trading by buy-side clients

    Refinitiv, the parent company of the FXall trading platform, said it has seen a 41% year-over-year increase in the use of its execution algorithms by buy-side clients. FXall is a multi-dealer platform for FX trading that has traditionally been used for multilateral and bilateral...
  16. DM

    ECB summary and implications for EUR/USD

    Without bragging too much, I'm happy to say Mario Draghi delivered most of what I had expected at today's ECB policy meeting, and more: Cut in the deposit rate by 10 basis points to -0.5% from -0.4%. Introduction of a two-tier system that exempts part of banks' excess liquidity from the...
  17. DM

    Preparing for the ECB: Fixed income or fixed loss securities?

    Tomorrow will be an important day for investors in foreign exchange: In its most anticipated meeting in months, the European Central Bank is expected to announce a package of fresh stimulus measures, including another cut in its deposit rate, a renewal of its bond buying programme as well as a...
  18. DM

    FX data analysis platform Tradefeedr partners with Goldman Sachs, UBS and XTX Markets

    Tradefeedr, the FX data analysis provider, announced on Tuesday that it has partnered with Goldman Sachs, UBS and XTX Markets. The company was founded in 2018 by Balraj Bassi and Alexei Jiltsov. Tradefeedr differs from traditional FX data analysis companies, such as TCA providers, because it...
  19. DM

    What does NIRP mean?

    The acronym NIRP refers to "Negative Interest Rate Policy". It is a monetary policy tool employed by central banks to support the economy during a financial crisis - at least in theory, that is. The idea being that, if interest rates on savings are negative (or at the lower bound of zero for...
  20. DM

    The week ahead in FX: 9-13 September 2019

    The main event of the coming week will be the European Central Bank's meeting on Thursday, 12 September. Mario Draghi is widely expected to announce a 10-15 basis point rate cut and perhaps even a renewed bond buying programme. These actions are far from certain, however, making Thursday a risky...
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