Tuesday, 02 March, 2021
(AFR) RBA boss Phil Lowe demonstrates his dexterity ——————————————————————————-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. RBA boss Phil Lowe demonstrates his dexterity2021-03-02 09:15:02.636 GMT By Karen Maley March 2 (Financial Review) — As the Australian economy rebounds, Reserve Bank governor Philip Lowe faces a fresh challenge: can he demonstrate the same keen judgment on monetary policy during the recovery as he did in the dark days of the pandemic? The challenge came to a tumultuous head last week, as bond market […] Read More
Tuesday, 02 March, 2021
With so much focus on reflation narratives I found the below quote from a BIS report out last night pretty interesting. If you weren’t already questioning the move this year in breaks then this should atleast provide a healthy grain of salt to the move. It also provides some context as to why real yields could still push a lot higher from here in a number of different scenarios while counter to the theme over […] Read More
Wednesday, 03 March, 2021
(BN) ECB Said to See No Need for Drastic Action to Curb Bond Yields ECB Said to See No Need for Drastic Action to Curb Bond Yields2021-03-03 09:34:52.538 GMT By Carolynn Look and Alexander Weber(Bloomberg) — European Central Bank policy makers see noneed for drastic action to combat rising bond yields, believingthe risk to the economy is manageable with verbal interventionsand the flexibility of their bond-buying program, according toofficials familiar with […] Read More
Tuesday, 23 February, 2021
(DJ) Fed’s Powell says economy could improve later this year but sees no change in policy ——————————————————————————-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. Fed's Powell says economy could improve later this year but sees no change in policy2021-02-23 15:00:45.499 GMT (MarketWatch) — Greg Robb There are signs that the economy is on the mend from the coronavirus pandemicbut the central bank is likely to keep its easy policy in place for some time,said Fed Chairman Jerome Powell on Tuesday. "While we […] Read More
Monday, 22 February, 2021
(BFW) Yellen Addresses Super-Long Issuance and Financial Taxes ——————————————————————————-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. Yellen Addresses Super-Long Issuance and Financial Taxes2021-02-22 14:33:31.768 GMT By Cameron Crise (Bloomberg) — Janet Yellen is on the tape with a fewinteresting comments: *YELLEN: ISSUING LONGER-TERM SECURITIES SEEMS TO MAKE SOMESENSE *YELLEN SAYS COULD LOOK AT LONGER-TERM BONDS AGAIN; MARKETTINY *YELLEN: DEBT INTEREST PAYMENTS BETTER METRIC THAN DEBT-GDP There has been plenty of talk of super-long issuance overthe past few years. It’s safe to say […] Read More
Wednesday, 17 February, 2021
Interest Rate Gate-Keepers vs The Real World The interest rate gate-keepers: San Fran Fed President Mary Daly on Tuesday pushed back against critics warning low interest rates and government spending could overheat the U.S. economy and spark high inflation. “I am not thinking that we have unwanted inflation around the corner,” Daly said at a virtual event held by the University of San Francisco. “I don’t think that’s a risk we should think about […] Read More
Monday, 15 February, 2021
MNI INTERVIEW: BOE To Unwind QE Before Hike-NIESR Deputy By David Robinson The Bank of England looks set to reverse its previous strategy and indicate it would start unwinding quantitative easing before hiking Bank Rate, though no tightening is likely for some time yet, the National Institute of Economic and Social Research’s deputy director Hande Kucuk told MNI. Bank staff have been asked to reconsider the current tightening strategy of maintaining the stock […] Read More
Monday, 15 February, 2021
* The US Dollar model signal and positioning stay close to max bearish levels * CTAs pare long positions in JPY FX for fifth consecutive week. Model signal too has come down from max bullish levels * Specs are net neutral AUD FX despite max bullish model signal * CTAs have broadly been buying GBP FX futures since Nov’20, net long positioning (as % of OI) is close to a year high, but has been […] Read More
Tuesday, 16 February, 2021
And Europe is down but not out View in browser Tuesday February 16 2021 Subscriber Exclusive By Ambrose Evans-Pritchard and Jeremy Warner Surprise, surprise: Brexit Britain may beat Europe back to pre-pandemic GDP By Ambrose Evans-Pritchard, World Economy Editor The UK economy did not suffer a bigger contraction than the eurozone last year after all. The narrative of a particularly British fiasco – believed by the London media, and the world – is […] Read More
Thursday, 11 February, 2021
The coronavirus variant first found in the British region of Kent is likely to sweep around the world and the battle with the virus is going to go on for at least a decade, the head of the UK’s genetic surveillance programme said. The Kent variant has “swept the country” and “it’s going to sweep the world, in all probability,” Sharon Peacock, director of the Covid-19 Genomics UK consortium, told the BBC. “Once we get […] Read More
