Rabobank
May 15, 2026
Musical Chairs
Daily UpdateMacro Economic IndicatorsRates Govt BondsFXIndustrialsEnergy
Geopolitical tensions and central bank leadership changes take center stage as Trump meets Xi and Kevin Warsh is confirmed as the new Fed Chair. Market sentiment is weighed down by hot US trade data and political turmoil in the UK.
Key Takeaways
- 1.Trump and Xi's meeting in Beijing resulted in China pledging not to send weapons to Iran and agreeing to purchase 200 Boeing jets.
- 2.Kevin Warsh's appointment as Fed Chair has triggered a leadership reshuffle, including the resignation of Governor Stephen Miran.
- 3.UK political instability is mounting as Health Secretary Wes Streeting resigned to challenge Keir Starmer's leadership.
Table of Contents
- Weekly wrap-up
- Day ahead
- FX Strategy
- Fixed Income Strategy
- Agri Commodity Markets
- Energy Markets
- Client coverage
- Disclaimer
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Authors
Molly Schwartz
Securities
BAUS 2 Year TreasuryBrent CrudeUK 30 Year Gilt
Themes
Central Bank Governance TransitionGeopolitical Trade RapprochementUK Political Instability
Regions
North AmericaAsia PacificEuropeUnited StatesChinaUnited Kingdom