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
Wednesday, 20 November, 2024
Citi Bullish on FV, UXY, US Futures Rolls, Neutral on TU, TY, WN For the Treasury futures calendar roll from Dec24 to Mar25, interest-rate strategists at Citi are neutral on TU, slightly bullish FV, neutral TY, slightly bullish UXY roll, slightly bullish US and neutral WN, Raghav Datla and Jason Williams say in a note. * TU: Neutral based on bearish risks from increased asset manager long positioning (to 53% of open interest from 47% […] Read More
Monday, 25 November, 2024
(Bloomberg) — Bank of England Deputy Governor Clare Lombardelli said policymakers need to move carefully as they gradually cut interest rates. Delivering her first speech since joining the BOE earlier this year, Lombardelli said the UK has made “good progress on disinflation” but “the more persistent components of inflation and uncertainties around how the labor market will evolve are cause for concern.” “I support a gradual removal of monetary policy restriction and will be monitoring […] Read More
Monday, 25 November, 2024
Goldman Sachs and BMO Capital Markets recommend positioning for Federal Reserve policy easing into January as investors gauge the outlook for rate cuts ahead of a slate of economic data this week, including PCE price indexes Wednesday. Barclays recommends holding forward curve steepeners. * Barclays (Anshul Pradhan and others, Nov. 21 report)** Recommends two-year forward 2s10s curve steepeners, finding “real rates in the belly of the curve too high and the forward rate curve too […] Read More
Tuesday, 26 November, 2024
*BOC REPEATS FURTHER CUTS LIKELY, TIMING, PACE DEPEND ON DATA *MENDES: CPI BELOW 2% WOULD HARM ECONOMY, INFLATION EXPECTATIONS *MENDES DEFENDS PAST BOC RATE HIKES, EXPLAINS WHY 2% TARGET KEY *BOC: ANCHORED CPI EXPECTATIONS PREVENTED LONG INFLATION BATTLE *BANK OF CANADA’S RHYS MENDES SPEAKS IN PRINCE EDWARD ISLAND *MENDES: BOC RATE HIKES WERE CENTRAL TO RESTORING LOW INFLATION *MENDES: BOC MUST ‘STICK LANDING,’ ENSURE CPI STABILIZES AT 2% *BOC’s Mendes: Timing, Pace of Cuts Hinges […] Read More
Tuesday, 26 November, 2024
A Bank of Canada official said policymakers are aiming to keep inflation near their 2% target, and pushed back on the idea that officials should slow price gains further or cause deflation. Deputy Governor Rhys Mendes said it was reasonable to expect further cuts to interest rates if inflation and the economy continues to evolve as forecast but said that the timing and pace of further cuts would be guided by incoming data. He offered […] Read More
Wednesday, 27 November, 2024
Another 50bp in February more likely than not The RBNZ delivered the expected 50bp cut and looks set to continue at this pace in February. We now see a 50bp cut to 3.75% as more likely than not at the February Monetary Policy Statement. The RBNZ cut the OCR by 50bps to 4.25% at its final policy meeting for this year. The RBNZ’s OCR forecast profile was revised down as expected and now shows the […] Read More
Tuesday, 10 December, 2024
{AU} Westpac’s Luci Ellis “RBA remains on hold, slowly gaining confidence” “….in the media conference, the Governor conceded that there were scenarios in which the Board ended up cutting in February, while prudently choosing not to describe one. In acknowledging that reality, the RBA has clearly tilted the probabilities back towards an earlier start date for the rate-cutting phase than where it stood a few weeks ago. It does not, however, shift that balance of […] Read More
Wednesday, 11 December, 2024
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Wednesday, 11 December, 2024
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