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“The global rate cut cycle is over: Among 52 central banks worldwide, the same number hiked and cut rates in May, at 26 each.”
@KobeissiLetter · The Kobeissi Letter
Synchronized global tightening restarts — 26 of 52 central banks now hiking — pressures long-duration bonds lower.
TLTSHORT@ $84.94
$81.10+4.53%
since call Jun 20
peak +5.5%
“Last week, the European Central Bank hiked rates by 25 basis points to 2.25%, marking their first hike since September 2023.”
@KobeissiLetter · The Kobeissi Letter
ECB's first rate hike since Sept 2023 restarts European tightening, driving EUR higher vs USD.
EURLONG@ $1.14
$1.16+2.28%
since call Jun 20
peak +2.3%
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