ING Economic and Financial Analysis

Press reports suggest that the European Central Bank is about to change remuneration of liquidity as soon as October. We review the options on the table and see how they will affect money market...

Energy prices traded lower last week with macro pressures proving too much for markets. However, supply concerns remain, not just in the energy complex, but across the broader commodity spaceEnergy:...

As markets price the Fed's peak rate almost at 5.0%, US housing data will be watched this week. A housing downturn is likely considered a "necessary evil" now, but the pace of the drop may start to...

It's been helpful to see core US inflation easing off the highs through the summer. However, the past month or so has seen a re-elevation. And today, the market expects US core inflation to get back...

Oil prices came under pressure after OPEC revised down its forecasts for oil demand. Aluminum supply risks are growing after reports that the US is considering imposing a ban on Russian...

The dollar continues to consolidate barely 1% off its highs of the year. Last night's release of the September FOMC continued to reveal a very hawkish Fed operating the risk management strategy that...

The strong August reading does not fully reverse the losses from July, and expectations for manufacturing in the months ahead continue to weaken. Still, for the ECB this is another argument not to...

US data and policy should remind markets of the difficulty in timing the Fed’s pivot. Conditions for market volatility should remain in place until year-end. The Bank of England is keeping gilt...

The pound's elevated volatility looks set to stay as contradictory signals from BoE Governor Bailey and a media report about the extension of the emergency gilt-buying programme have left markets in...

The approaching end to the Bank of England’s purchases has sent gilts into a tailspin, a repo facility would help deal with margin financing but won’t solve the underlying problem. Joint...

Wheat prices rose yesterday as concern mounted for Ukrainian exports following Russia’s latest attack on a number of Ukrainian cities. The oil market appears to have shrugged off growing...

More turmoil in the UK bond market has seen the Bank of England step in with another emergency measure, this time to support battered inflation-linked bonds. Today's 30-year linker auction and speech...

Oil prices came under pressure in September, with Brent falling by almost 9% over the month and trading to the lowest levels since January. US dollar strength and central bank tightening have...

We continue to favor a stronger dollar this week, as CPI numbers should show another acceleration in core inflation, Fed communication should remain hawkish and risk sentiment unstable. The...

The dollar downtrend appears to be running out of steam. In our view, a further US dollar recovery is likely from current levels as markets show reluctance to fully jump in on bets of a Fed pivot. We...

There was no doubt that OPEC+ was going to cut oil supply when the group met in Vienna. However, the agreed 2MMbbls/d supply cut was at the top end of expectations. While the actual cut will be quite...