Archive - APFX Research

Energy Is Repricing Carry

The flavour of the month... or year?

22 hrs ago

UnSTIRtain Times

Making sense of a tumultuous week.

Mar 20

The ECB Won't Hike In 2026

Front-end pricing has overshot.

Mar 10

Misallocated Inflation Risk Premium

Making sense of knee-jerk STIR moves.

Mar 3

February 2026

Takaichi Just Blinked

Fiscal first, monetary later for Japan.

Feb 24

Canada's Cycle Downshifts

CAD is becoming increasingly vulnerable.

Feb 17

Portfolio Trading Update

APFX Trade Tracker - Q1 2026

Feb 10

False Comfort in SONIA

Why the BoE narrative is wrong.

Feb 4

January 2026

The Yen's Second Act

Setting the stage for the next play.

Jan 27

When Havens Compete

Why CHF is suddenly back in vogue.

Jan 20

Clear thoughts on USD/JPY and JGBs.

Jan 13

Bears in a Dollar Shop

Why we struggle to get onboard with the bearish consensus USD view.

Jan 7

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