GS Morning Market Update

This report provides a morning summary of GS research covering KRW outperformance, global market views from Tony Pasquariello, and the RBNZ interest rate decision.

Key Takeaways

• 1.KRW continues to outperform due to Hynix repatriation expectations and reduction in equity-linked hedging.
• 2.Tony Pasquariello recommends remaining invested but simplifying portfolios to high-conviction assets.
• 3.The RBNZ raised the Official Cash Rate (OCR) by 25bp to 2.50% at the July meeting.

Table of Contents

• FX Trader Call Today @ 2:00 PM LDN
• EM MARKET STRATS (SUN LU) – KRW Outperformance
• TONY PASQUARIELLO – Markets/Macro
• NZ ECONOMICS (BOAK) - RBNZ Recap
• G10 FX SPOT TRADING (BRAUTEN-SMITH)
• GLOBAL MARKETS (WILSON) – From Macro To Micro Volatility

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