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May 20, 2026
USD/JPY, EUR/JPY flows: A compelling argument for the BoJ to surprise with aggressive Operation Twist
May 20, 2026 8:53 AM UTC
Argument that the current BoJ mix is not being rewarded. Indeed, its being punished as trilemma narrative takes hold
A rift on 'Operation Twist' offers a strong way forward - hike policy rates while reduce the aggressive taper
Could actually be both macro supportive and market savvy
Best version of the
UK CPI Review: Inflation Falls Broadly But A Calm Before the Storm?
May 20, 2026 6:42 AM UTC
What are energy induced price rises are now very evident, even more so in the latest PPI data very much contrasting with the more benign picture in April’s more closely watched CPI figures. Thus, having seen headline CPI jump to 3.3% in March and where services rose to 4.5% on the back if what may
May 19, 2026
Preview: Due May 28 - U.S. April New Home Sales - Trend has little direction
May 19, 2026 2:48 PM UTC
We expect an April new home sales total of 665k, which would be a decline of 2.5% in March’s 7.4% increase to 682k sees no revisions. Over the last three years, movements outside a 650-700k range have trended to be brief though November 2025 hit a high of 748k and January 2026 a low of 583k.
Canada April CPI - Excluding energy inflation is falling
May 19, 2026 12:59 PM UTC
April Canadian CPI is clearly softer than expected, with the acceleration to 2.8% yr/yr from 2.5% due to a drop in the year ago base due to the abolition of the carbon tax. Current energy strength is being offset by weakness elsewhere. The Bank of Canada’s three core rates are all softer, with CPI