摩根士丹利：全球宏观策略-关税关键节点
2025-07-01 02:24
G10 FX Strategy: Two Banks and Two Dollars | 27-Jun-2025 We expect USD/CAD to decline this year as Fed and Bank of Canada policy expectations diverge. However, CAD is likely to underperform other G10 currencies due to energy market and immigration dynamics. US Rates Strategy: Add Vol Surface Flatteners | 27-Jun-2025 We suggest buying 1m10y vs. 6m10y vol given cheap valuations. We maintain our 0QU5 call fly to play for a further repricing of the Fed's trough rate. Euro Area Rates Strategy: Dutch Pension Refo ...