Tuesday, 19 November, 2024
https://www.bloomberg.com/news/articles/2024-11-19/atacms-why-us-will-let-ukraine-strike-inside-russia-with-its-missiles “But allied officials don’t expect the latest authorization to have a comparable impact, at least for now, or to dramatically shift the balance of the conflict, where Ukraine’s forces have been losing ground in recent months amid heavy pressure from more numerous and better-equipped Russian troops. The Pentagon said in September that Russia had already moved 90% of the aircraft it uses to launch glide-bomb and missile attacks on Ukraine out of range for […] Read More
Friday, 08 November, 2024
US equities saw the biggest daily inflow in five months on Wednesday, the day Donald Trump was declared winner of the US Presidential election, at $20 billion, according to a Bank of America note citing EPFR Global data. US small caps saw the biggest daily inflow since March at $3.8 billion, a team led by Michael Hartnett writes in a note Financials had the biggest daily inflow on record, at $2.9 billion In the week […] Read More
Thursday, 07 November, 2024
The Bank of England cut borrowing costs for the second time this year but stopped short of signalling faster easing, warning that the budget will drive up inflation by as much as half a percentage point. Eight members of the Monetary Policy Committee led by Governor Andrew Bailey voted to lower the benchmark interest rate by a quarter point to 4.75%. Catherine Mann, one of its external officials, was the lone dissenter, preferring to hold […] Read More
Monday, 04 November, 2024
Strategists at Barclays say the recent steepening of the Euribor curve is excessive and recommend flatteners to position for a slower cadence of ECB interest-rate cuts. Goldman Sachs analysts write that risk reward favors lower yields in coming quarters while SocGen strategists are looking for opportunities to buy German bonds. Barclays: (strategists including Rohan Khanna) Recommends June 2025 – December 2025 Euribor flattener to fade the recent aggressive steepening which has lifted the spread toward […] Read More
Thursday, 31 October, 2024
“Today’s Autumn Budget saw the Chancellor notably increase current and investment spending, taxation, and borrowing. New policy measures added £48.8bn to departmental day-to-day spending by fiscal year (FY) 2029 (1.4% of FY2029 GDP). To meet its deficit target – which at present requires the current budget to move into balance by FY2029 – the government introduced tax increases worth £41.5bn in the final year of the forecast (although this falls to £31.9bn after considering the […] Read More
Thursday, 31 October, 2024
TRICKS WITHOUT TREATS: General feed back on Reeves UK budget: tax up (check), govt spending up (check), inflation up (check) growth… missing. Small businesses particularly vocal on huge new costs (min wage and NI). – THE AI’S HAVE IT: Meta (prob the most loved name in US tech) fell after hours, Zuckerberg’s spending plans go-on unabated which took shine off numbers. – CLOUD TO SILVER LININGS: Microsoft hit after hours, cautioned cloud revenue growth will […] Read More
Tuesday, 15 October, 2024
National Australia Bank brings forward RBA interest rate cut to February One of the country’s largest bank says that the Reserve Bank will be in a position to offer rate relief to millions of Australians sooner than expected. Matt Bell 2 hours ago The Australian Business Network https://www.theaustralian.com.au/business/economics/national-australia-bank-brings-forward-rba-interest-rate-cut-to-february/news-story/2e05d4f72be232b6911c201194c9d3fc National Australia Bank has brought forward its expectations for the first interest rate cut from the Reserve Bank to February as economic indicators suggest that inflation is […] Read More
Tuesday, 15 October, 2024
Federal Reserve’s Waller calls for more caution on interest rate cuts after ‘disappointing’ data Influential governor says US economy in ‘sweet spot’ but hotter than expected inflation not welcome A strong US economy and mixed inflation data support a more gradual pace of interest rate cuts following a big reduction by the country’s central bank last month, a top official at the Federal Reserve said on Monday. “I view the totality of the data as […] Read More
Monday, 14 October, 2024
Traders are starting to price in US electionrisks to Treasury and volatility markets, according to GoldmanSachs strategists who continue to recommend shorting 10-yearTreasuries versus German counterparts. Citi took profit on along breakevens position, while BMO looks to enter the tradeshould rates fall to more favorable buying levels. For a roundupof views on European rates, click here. * Bank of America (Mark Cabana, Meghan Swiber and others, Oct.11 report)** Maintains dip-buying stance and real steepeners bias, […] Read More
Thursday, 10 October, 2024
10 Oct 2024 12:30:29 – ECB ACCOUNTS: NFLATION WAS EXPECTED TO RISE AGAIN IN THE LATTER PART OF THIS YEAR 10 Oct 2024 12:30:36 – ECB ACCOUNTS: IT WAS THEN EXPECTED TO DECLINE TOWARDS THE TARGET OVER THE SECOND HALF OF NEXT YEAR 10 Oct 2024 12:30:50 – ECB ACCOUNTS: RECENT NEGATIVE SURPRISES IN PMI MANUFACTURING OUTPUT INDICATED POTENTIAL HEADWINDS TO THE NEAR-TERM OUTLOOK 10 Oct 2024 12:31:01 – ECB ACCOUNTS: T THEREFORE NEEDED TO […] Read More
