A real yield is an interest rate adjusted for inflation or expected inflation, helping show the inflation-adjusted return available from an interest-bearing asset.
Relative strength describes which currency, asset, or market is outperforming others over the same period, helping you compare performance across instruments rather than looking at one chart in isolation.
Risk sentiment describes whether markets are broadly positioned toward higher-risk assets (risk-on) or capital preservation (risk-off), often driven by growth expectations, policy outlooks, and uncertainty.
Risk-off describes a market regime where participants prioritise capital preservation, reduce exposure to higher-risk assets, and favour liquidity and defensive positioning.
Risk-on describes a market regime where participants are comfortable taking risk, often favouring growth and higher-beta assets as confidence improves and risk premiums compress.
Second-round inflation effects describe a situation where an initial price shock, such as energy, begins feeding into wider wages, services, and business pricing across the economy.
Sentiment describes the prevailing attitude of market participants, ranging from optimistic to cautious, and often influences positioning, volatility, and short-term price behaviour.
Thin market describes conditions where there are fewer orders or less available depth close to the current market price, which can make price feel more sensitive to incoming buying or selling.
TINA stands for “There Is No Alternative” and is used to describe periods when investors keep favouring one asset class, often equities, because alternatives appear less attractive.
The US Dollar Index (DXY) is a measure of the US dollar’s value against a basket of major currencies, often used as a quick gauge of broad USD strength or weakness.
USD strength describes periods where the US dollar appreciates broadly against other currencies, often driven by yields, policy expectations, growth differentials, and global risk sentiment.
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