Out Like a Lamb
The month of March is set to end on a quieter note as banking concerns ease, the dollar stabilizes, and volatility measures subside. Treasury yields are steady ahead of new consumer spending data and an update in the Federal Reserve’s preferred inflation indicator, equity futures are strengthening, and risk-sensitive currencies are edging higher – suggesting that investors could be positioning for a generalized bear market bounce in early April. Mexico’s peso remains relatively unmoved after the Banxico delivered a widely-expected rate hike and shifted its forward guidance in a firmly data-dependent direction. After telegraphing the intention to do so at last month’s...