Cyclical Minus Defensive Sectors Positioning

Cyclical Minus Defensive Sectors Positioning The cyclical-minus-defensive sectors positioning at the 24th percentile indicates a defensive market stance, with investors heavily favoring sectors less sensitive to the economic cycle. Image: Deutsche Bank Asset Allocation

Aggregate U.S. Dollar Position, Non-Commercial Traders

Aggregate U.S. Dollar Position, Non-Commercial Traders Speculators are holding their most bearish positions on the U.S. dollar since September 2024, driven by global optimism, de-dollarization trends, and relative strength in other major currencies. Image: Bloomberg

Reserves in Different Currencies

Reserves in Different Currencies While the USD share of global FX reserves has slipped somewhat, it remains close to 60% and continues to be the leading global reserve currency by a wide margin. Image: Deutsche Bank

Net U.S. Dollar Positioning

Net U.S. Dollar Positioning When USD postioning is very light, USD tended to move higher. Image: J.P. Morgan

$11 Trillion Bonds Globally Trade At Negative Interest Rates

$11 Trillion Bonds Globally Trade At Negative Interest Rates The total amount of negative interest rates climbed to USD 11 trillion. Investors are paying governments for the privilege of holding their bonds and are losing so much money in real terms. Image: Deutsche Bank Global Research