Tuesday, 11 February, 2025
UK inflation less of a threat as corporate pricing power weakens, says BoE official Former MPC hawk Mann said a half-point cut in interest rates had been needed last week to ‘cut through the noise’ Sam Fleming and Chris Giles in London 7 hours ago https://www.ft.com/content/b2496ab1-a07f-447d-9675-32f14fe4f1fe Companies will struggle to raise prices this year as consumers are hit by job losses and spending softens, according to a Bank of England rate-setter […] Read More
Wednesday, 15 January, 2025
JPMORGAN (JPM US) out early… Again credit loss provisions lower than expected. Rev and NII are a beat. Deposits in line. FICC trading ahead, Equities miss. Talking resilient economy. JPM +2% premkt Read More
Thursday, 16 January, 2025
The front-end of the Treasury market is getting a bit of support from Fed Governor Waller, who’s noting the possibility of more rate cuts and a move as soon as March. Traders are also adding a few more basis points to pricing for reductions to borrowing costs this year, though it largely remains intact for one quarter-point cut fully priced and another with a probability greater than 50%. That’s probably all the reaction that Waller’s […] Read More
Friday, 17 January, 2025
(Wall Street Journal) — CLEVELAND — When Beth Hammack was selected last year to lead the Federal Reserve Bank of Cleveland, one of her former colleagues on Wall Street predicted she would waste little time in leaving her stamp on monetary policy. Hammack didn’t disappoint. The former Goldman Sachs treasurer opposed the Fed’s decision to lower interest rates at its most-recent meeting — and just her third at the central bank. Not only are prices […] Read More
Tuesday, 21 January, 2025
Bridgewater founder Ray Dalio warns of UK ‘debt death spiral’ Sell-off in gilts since Budget suggests market balking at higher borrowing needs, says billionaire investor Ray Dalio says the market turbulence ‘reflects a supply-demand problem’ for gilts © Andrew Kelly/Reuters Bridgewater founder Ray Dalio warns of UK ‘debt death spiral’ on x (opens in a new window) Bridgewater founder Ray Dalio warns of UK ‘debt death spiral’ on facebook (opens in a new window) Bridgewater […] Read More
Friday, 24 January, 2025
Expected Index Extensions: {US} UST Aggregate Index: +0.06y • The UST duration extension for January is below both its 12-month +0.07y, and its three January average of +0.07y. {GB} UKT Aggregate Index: +0.18y • The UKT index should see an extension of +0.18y, below its January average +0.21y, and above its 12-month average +0.07y. There is one new issue included, a Mar30 for £4.25bn, and ~£39.7bn dropping from the index. Around £9.8bn in coupons were […] Read More
Monday, 27 January, 2025
NVIDIA -8% Palantir -7% Tesla -4% SuperMicro -8% Intel -2.5% AMD -4% Micron -7.5% Apple -1.7% Robinhood -5% Broadcom -8% Microsoft -3.5% Meta -4% Marvell -7.5% Amazon -3.5% Google -3.5% IonQ -9% SoundhoundAI -10% NuScale Pwer -12% Vistra 8.5% Read More
Tuesday, 28 January, 2025
FED SPEAK (via Nickileaks): “A trade war that raises prices would be much more complicated for the central bank than it was during Trump’s first term” Fed is widely expected to hold its benchmark interest rate steady at its two-day meeting that concludes Wednesday, taking a pause after cutting short-term rates by a full percentage point at its last three meetings. A key question looms over the Federal Reserve as President Trump contemplates bolder uses […] Read More
Tuesday, 28 January, 2025
LVMH (MC FP) FY revs €84.68bn (est 84.3bn)….. Just seen one line of the release (not out on Berg yet( Read More
Wednesday, 29 January, 2025
-The Bank of Canada on Wednesday cut its benchmark rate for a sixth straight time, and warned of a significant shock to the economy from a U.S.-Canada trade conflict with tariffs of up to 25%. Canada’s central bank lowered its policy rate by a quarter-point to 3%, as widely expected in a survey of economists last week by The Wall Street Journal. In its decision, the Bank of Canada said a recent rebound, fueled by […] Read More
