From: Lorberg, Stuart <Stuart.Lorberg@cmegroup.com> Sent: 19 January 2022 12:11Subject: Useful chart & text – Liquidity is shifting to SOFR Good afternoon, Plse see below – a useful ref to the pace at which ED Futures are transitioning to SOFR at present + a reference once again to the recently enhanced ED/SOFR Futures ICS at finer pricing – 0.001 bp. All feedback welcome of course. Stu View […] Read More
*AUSTRALIA CANCELS DJOKOVIC VISA: REPORTS Djokovic’s visa has been cancelled By Anthony Galloway Immigration Minister Alex Hawke has used his personal power to cancel Novak Djokovic’s visa, as his lawyers prepare to file an immediate injunction against the decision. The move has thrown the world tennis no.1’s quest for a 10th Australian Open into turmoil with the tournament to begin on Monday. If he doesn’t challenge the decision in the courts or is unsuccessful in […] Read More
GUNDLACH…. *Gundlach focused heavily on signals that the U.S. economy could be weakening, saying that “I do think recessionary pressure is building” and comparing the state of the U.S. economy to the inflationary period in the 1970s under President Jimmy Carter. Consumer sentiment has weakened and “given up the ghost,” and looks to be at a recessionary level, Gundlach said. *Gundlach went through several data points suggesting that he was right last year to predict […] Read More
By CHRISTOPHER LEONARD 12/28/2021 04:30 AM EST Christopher Leonard is a business reporter whose work has appeared in The Washington Post, The Wall Street Journal, Fortune and Bloomberg Businessweek. He is the author of The Meat Racket and Kochland, which won the J. Anthony Lukas Work-in-Progress Award. His new book, The Lords of Easy Money: How the Federal Reserve Broke the American Economy, is out January 11. Thomas Hoenig doesn’t look like a rebel. He […] Read More
Street Views: BoA (Cabana, Axel): There will be 3 key points of focus at the Dec FOMC: (1) taper acceleration (2) SEP & dot plot, which will show a pull forward of hikes (3) balance sheet discussion & hints of QT. We expect the Fed to double the speed and reduce monthly TSY purchases by $20bn and MBS purchases by $10bn. The updated dot plot will likely reveal a pull forward in the dots, with […] Read More
Terry McCrann – After February RBA meetings go ‘live’ again After the latest RBA board meeting it is clear Australia is moving closer to a rate rise, not just potentially in 2023 but possibly even relatively early next year. https://www.heraldsun.com.au/business/terry-mccrann/after-february-rba-meetings-go-live-again/news-story/7d38e9888fa403f550d9c60463cccd9e Reserve Bank Governor Philip Lowe and his fellow directors and RBA management have been on a journey over the last two months and which will reach its destination at the next […] Read More
ANZ: If the Fed does accelerate the pace of its bond tapering, then we think the RBA could well decide to end its QE program altogether in February. This would be doubly so if the data over coming weeks means the RBA’s economic forecasts are upgraded in its February Statement on Monetary Policy. We don’t think the statement that will follow the RBA Board’s December meeting will allude to the possibility of QE ending […] Read More
Existing vaccines will be less effective at tackling Omicron than earlier strains of Covid-19 and it may take months before pharmaceutical companies can manufacture new variant-specific jabs at scale, Moderna Chief Executive Stephane Bancel said in an interview with the Financial Times. The high number of Omicron mutations on the spike protein, which the virus uses to infect human cells, and the rapid spread of the variant in South Africa, suggested the current crop of […] Read More
(BN) Bank of England Recent Policy Comments and Decisions ——————————————————————————-This message may contain confidential or privileged information. If you are notthe intended recipient, please advise us immediately and delete this message.The unauthorised use, disclosure, distribution and/or copying of this e-mail orany information it contains is prohibited.This information is not, and should not be construed as, a recommendation,solicitation or offer to buy or sell any securities or related financialproducts. This information does not constitute investment advice, does notconstitute a personal recommendation and has been prepared without regard tothe individual financial circumstances, needs or objectives of persons whoreceive it. Bank of England Recent Policy Comments and Decisions2021-11-30 07:00:00.7 GMT By Barbara Sladkowska (Bloomberg) — The following is a compilation of policy statements anddecisions from the Bank of England’s Monetary Policy Committee and DeputyGovernors.*TNov. 26 — Huw Pill. Chief EconomistVENUE: Speech to the Confederation of British Industry North East “Taken together, these developments were sufficient for me to support theMPC’s November steer that, should the incoming […] Read More
(MIRABAUD SECURITIES) Within the Michigan University consumer confidence data last week was this chart: “Good time to buy a vehicle?”. The Bloomberg ticker is CONSVEHR Index, but Uni Of Michigan’s own website overlays longer term data with various recession periods: A similar chart is available for white goods: Several reasons as to why this maybe so: Too little supply (lack of chips etc), you can’t buy what isn’t available? Brought forward demand already […] Read More
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