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    1. FT Alphaville

      January 6, 2015

      Your new average, 2015 edition

      From Citi’s Steven Englander: That’s the average of G3 10 year yields falling below 1 per cent for the first time on record....

    2. September 14, 2014

      Investors await shift in Fed’s rate language

      US bond traders are warily awaiting this week’s meeting of the Federal Reserve as debate intensifies over when the US...

    1. August 8, 2014

      Dollar’s recovery stalled by conflicts

      The dollar fell against major currencies after the US commitment to air strikes in Iraq became the latest geopolitical event...

    2. FT Alphaville

      June 27, 2014

      Do private sales affect public prices?

      It’s a tricky question for the Bitcoin community this morning, who just can’t decide. From the Bitcoin reddit: The drama...

    3. FT Alphaville

      June 24, 2014

      The central bank vol control game

      If this is all getting confusing… Sterling fell on Tuesday after Bank of England governor Mark Carney damped expectations of...

    4. FT Alphaville

      June 3, 2014

      Buy some things in May and go where you will

      Here’s your risk adjusted returns for May, from Barclays: Apparently the first May since 2009 that global equity markets...

    5. March 13, 2014

      Discerning different kinds of risk-off

      There are three themes currently driving currency markets, says Steven Englander, global head of G10 forex strategy at Citi....

    6. FT Alphaville

      January 7, 2014

      Some altcoin memes are more equal than others

      Bitcoin may be many things: a cheaper and more efficient payments mechanism, a decentralised form of QE, an extreme way to...

    7. November 27, 2013

      Yen favourite to fund carry trades

      As we have noted many times on these pages, implied volatilities in forex and sovereign bonds are low by historic standards....

    8. FT Alphaville

      November 7, 2013

      Fed wonk special, now with Q&A

      Some prominent Fed Reserve Board staffers recently put out two weighty papers in advance of the 4th Jacques Polak Annual...

    9. October 24, 2013

      ‘Bad news is good news’ mantra holds firm

      How much is the market dependent on expectations of more central bank stimulus? That’s the subject that continues to...

    10. FT Alphaville

      October 4, 2013

      Hold on, the periphery looks relatively calm?

      A telling chart from Citi’s Steven Englander: His contention is that the euro is “an island of stability in global asset...

    11. FT Alphaville

      October 1, 2013

      The shutdown and economic data

      From Steven Englander of Citi, a list of US data releases possibly now subject to delay because of the shutdown: And those...

    12. FT Alphaville

      June 12, 2013

      Interest rate wars

      That’s the new black according to Citi’s Steven Englander: Since May 1 the median increase in 10-year local bond yields in...

    13. FT Alphaville

      May 23, 2013

      Abenomics gets the Alphachat podcast treatment

      David Keohane and Kate “Frenzy” Mackenzie* are joined by Citi FX strategist Steven Englander to discuss all things Abenomics...

    14. FT Alphaville

      May 8, 2013

      Hopium and Japanese exports

      A surging stock market, increased corporate earnings (check out Toyota) and frothy domestic consumer spending are lending...

    15. FT Alphaville

      May 3, 2013

      Nowotny on Draghi and negative rates: "purple monkey dishwasher"

      From Reuters: LONDON, May 3 (Reuters) 13.04 – The euro pared gains while German Bund futures edged up on Friday after...

    16. FT Alphaville

      May 2, 2013

      99 Draghi trial balloons [updated]

      (With some header credit due to Mark Dow) He came, he cut, he stuck a load of fingers in the air… The tl;dr version of May’s...

    17. FT Alphaville

      April 3, 2013

      Expectations reconsidered at the BoJ

      Two charts for your morning consideration: What Citi’s Steven Englander says they show is that since 2010 dollar-yen has...

    18. FT Alphaville

      March 18, 2013

      Teaching a lesson, lesson learned

      Sometimes German doesn’t translate very well. Citi’s FX guru Steven Englander summarises the divergences between the...

    19. FT Alphaville

      February 21, 2013

      A blinking red light

      That’s Citi’s risk-warning signals beginning to spike over the past couple of weeks and especially over the last day or...

    20. FT Alphaville

      January 22, 2013

      The practicalities of the currency wars

      We have Weidmann worrying the currency wars are kicking off again with Japan leading the way and a whole host of others...

    21. December 10, 2012

      Italy’s political uncertainty hits euro

      The euro shrugged off an earlier slump following political uncertainty in Italy as analysts said investors were positioning...

    22. FT Alphaville

      October 11, 2012

      The (early) Lunch Wrap

      Good morning New York… ALPHAVILLE Money as a passion, not a standard: Izzy asks if money and value, much like time, are a...

    23. FT Alphaville

      October 10, 2012

      The old are stealing our jobs!

      From Steven Englander at Citi — a little observed factoid regarding employment trends among the older demographic: We are...

    24. FT Alphaville

      September 28, 2012

      Coy Chinese elephant reveals ever slimming ankle

      We’ve written about the idea that global FX reserve growth might be creeping back up very recently. However, the evidence...

    25. FT Alphaville

      September 21, 2012

      Reserve managers caught between a euro and a dollar place

      The pace of reserve accumulation may have been slowing over the past few years — although that also reflects  movements in...

    26. August 31, 2012

      Greenback fails to claw back earlier losses

      The dollar failed to claw back earlier losses after a keenly awaited speech by Ben Bernanke, Federal Reserve chairman, left...

    27. July 31, 2012

      Switzerland is ‘new China’ in currencies

      There is a “new China” active in the currency markets, according to analysts, as Switzerland’s battle to weaken the franc...

    28. July 31, 2012

      Swiss face up to cost of franc defence

      Switzerland is facing the consequences of a vow to keep the franc weak. Figures released by the Swiss National Bank on...

    29. FT Alphaville

      July 31, 2012

      The changing ingredients of that Swiss cake

      Switzerland is the new China and it owns a cake, some of which it just doesn’t find all that appetising. (We admit this...

    30. FT Alphaville

      July 30, 2012

      The SNB eats euro cake

      How many reserve assets does it take to screw a Swiss franc into a euro-sized peg? Answer: this much (so far): That chart...

    31. June 6, 2012

      Euro rises after ECB holds rates

      The euro rose back above US$1.25 after the European Central Bank held interest rates as expected at 1 per cent and haven...

    32. June 3, 2012

      Emerging market central banks sell euros

      Central banks in emerging markets have been dumping euros to shore up their own currencies, contributing to the euro’s...

    33. April 16, 2012

      FX reserves set to boost single currency

      After slowing to a crawl during last year’s financial turmoil, growth in countries’ foreign exchange reserves is speeding...

    34. December 20, 2011

      Euro gains as Spanish auction lifts mood

      Commodity currencies and the euro rose against the dollar after better than expected economic data from Europe and the US...

    35. December 13, 2011

      Dollar and yen gain on euro

      The euro slid to its lowest level since January on Tuesday as investors reacted negatively to reported comments by Angela...

    36. FT Alphaville

      December 9, 2011

      Quotes du jour - Eurofudge edition

      For those of us of a certain age, the fiscal language looks to be copied and pasted from the original Stability and Growth...

    37. October 27, 2011

      Euro climbs on rescue plan

      A sharp rise in the euro triggered a broad rally in riskier currencies on Thursday after European leaders struck a deal to...

    38. May 13, 2011

      Euro gains on strong German growth

      The euro remained under pressure this week, touching a six-week low against the dollar as worries over Greek government debt...

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