The MUFG Global Markets Podcast

Will G10 FX carry trades continue to outperform?

Lee Hardman, Senior Currency Analyst, and Abdul-Ahad Lockhart, Currency Analyst, discuss the performance of G10 FX carry trades at the start of this year.
What are the main downside risks for carry trade performance in the near-term?
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ESG implications stemming from 2024's election bonanza

Ehsan Khoman, Head of Research – Commodities, ESG and Emerging Markets (EMEA), examines the potential implications of this year’s most important elections and contextualises as to whether 2024 may turn out to be a “preparation year” until crucial election outcomes are known for ESG policy direction.
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Is fading USD momentum signalling a turn?

The US dollar hit its highest level of the year this week and Derek Halpenny, Head of Research, Global Markets EMEA & International Securities talks to Jack Greenslade in FX Corporate Sales about the FX implications following the US inflation data and GDP data from Europe and Japan. Derek also discusses the return of USD/JPY to the “intervention zone” above the 150-level and whether these levels are sustainable.

Examining the feasibility of the EU’s 2040 climate targets

The European Commission published its communication on the EU climate target, proposing a 90% cut in emissions by 2040, and a separate communication on its Industrial Carbon Management strategy.
Ehsan Khoman, Head of Research – Commodities, ESG and Emerging Markets (EMEA), examines whether the plans provide a clear and stable investment signal necessary to drive forward net zero aspirations.
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The Trouble with Turnover: The MUFG Global Markets Podcast

George Goncalves, MUFG Head of U.S. Macro Strategy, and Glenn Schultz, MUFG Head of Prepayment Modeling and Strategy, discuss the January 2024 remittance data as well as the 2024 outlook for prepayment and turnover. They also go over how prepayment turnover is likely to evolve in 2024 and how dislocation in demographics is both observed turnover rates, in addition to home price appreciation and its potential implication on monetary policy going forward.

Higher CPI sends Goldilocks a rude reminder: The MUFG Global Markets Podcast

This week George Goncalves, MUFG Head of U.S. Macro Strategy, discusses the price action since the hawkish FOMC, stronger than expected NFP, hawkish chair Powell 60 minutes interview, and lastly, a higher than expected inflation report. In George’s view the macro and market conditions pre-CPI release were looking too good to be true. George believes that markets were priced for perfection and overdue some level setting after months of nonstop rallying. In the end, the higher CPI sends the Goldilocks crowd a rude reminder that this year will not be a linear progression to a soft-landing outcome, there will be bumps along the way, in our view. This will result in episodic vol.

USD extends advance against low yielding G10 currencies of CHF & JPY

The USD has continued to rebound over the past week although it’s performance has been mixed against other G10 currencies. Lee Hardman, Senior Currency Analyst talks to Michael Owen, Head of Global Client Desk EMEA, about what have been the main drivers of FX performance over the past week. Will the JPY weaken further after hitting fresh year to date lows? 

What is green? Examining global taxonomies

Ehsan Khoman, Head of Research – Commodities, ESG and Emerging Markets (EMEA), examines efforts to promote convergence between different green classifications and offers perspectives on what the reverberations are should policymakers make the decision of making taxonomy reporting mandatory in their jurisdictions.
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5 ESG questions in 2024 for the energy sector

In this week’s podcast, Ehsan Khoman, Head of Research – Commodities, ESG and Emerging Markets (EMEA), examines 5 key questions this year on the implications of ESG on corporate strategies, operations, governance processes and investor sentiment across the EMEA region.
Ehsan breaks down environmental, social and governance dimensions, particularly in the context of the energy complex within EMEA, to garner a deeper comprehension of how ESG factors can affect the future of a company or sector.
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Will the USD strengthen further on the back of US exceptionalism?

Lee Hardman, Senior Currency Analyst, and Reza Nasehi, Vice President of the Japanese Client Sales Group for EMEA in London, discuss what has triggered a more volatile USD this week. Will renewed US regional banking concerns threaten to derail the USD’s rebound? 
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