The CrossBorder Capital Blog

Come Back Mr Bond…YCC Is Here!   If Central Banks are not yet waving the white flag, it has been unfoiled. The list of policy-makers using some form of yield curve control (YCC) is getting longer by the day. We re-iterate that the recent market turmoil confirms the tight Global Liquidity backdrop. Markets may be near an inflection in liquidity, if not in policy rates? This year’s ‘get the Fed B/S down and the US$ up’ will surely reverse in 2023 into ‘get the US$ down and the Fed B/S up’. Policy-makers under-estimate the need for QE. The final bear phase is upon us! Mr Bond is back.     See our latest published research , Global View: Come Back Mr Bond…YCC Is Here! - September 2022    

IMPORTANT IMPORTANT – From Friday 1st July, we will be phasing out emails sent from sender@liquidity.com. To simplify our systems, we are consolidating our email addresses. All our emails will become sender@crossbordercapital.com. From 1st September, emails sent to ANY email account ending in liquidity.com will NOT work. Please update your records before 1st September. You may also receive a direct communication from your contact to this effect. Please feel free to contact us on info@crossbordercapital.com at any time about this change. Icarus Is Falling! A 2022 Market Crash? Evidencing The Rush To Safety   Higher forex volatility and higher bond volatility eventually pass through into higher equity volatility. The second leg-down in this bear market is upon us, characterised by collapsing corporate earnings. Treasury term premia stand at all-time lows: they are consistent with a 20% plus fall in US S&P500 earnings in 2023.