ABN AMRO: October Cut A Done Deal, But Question Mark Over December • Given the lack of strong pushback from Fed officials prior to the blackout period, we think it is unlikely the FOMC would spring a surprise on markets at this stage, and so an October cut is probably a done deal. • The bigger question mark is over December: we expect a further 25bp cut. However, this view is predicated on weakness in […] Read More
(BN) U.K. and Ireland See ‘Pathway to Possible Deal’: Brexit Update ——————————————————————————-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. U.K. and Ireland See ‘Pathway to Possible Deal’: Brexit Update2019-10-10 14:14:42.438 GMT By Patrick Donahue and Tim Ross (Bloomberg) — Boris Johnson met his Irish counterpart LeoVaradkar for crucial talks over lunch as the U.K. and EuropeanUnion seek a way through the Brexit impasse with time runningout to reach a deal. The two leaders said they could “see apathway to a possible deal,” […] Read More
* 11-Oct-2019 12:16:54 – ECB WILL RUN OUT OF GERMAN BONDS TO BUY IN JUST OVER A YEAR IF IT FOLLOWS CAPITAL KEY, SOURCES SAY * 11-Oct-2019 12:16:54 – ECB POLICYMAKERS WOULD RATHER BEND CAPITAL KEY THAN CHANGE ISSUER LIMIT, SOURCES SAY * 11-Oct-2019 12:16:54 – PAST PRACTICE OF FLEXIBILITY ON CAPITAL KEY COULD GIVE ECB `BEYOND A YEAR’ TO BUY GERMAN DEBT, SOURCE SAYS * 11-Oct-2019 12:16:55 – ECB POLICYAMKERS HAVE LITTLE APPETITE NOW […] Read More
(BN) Vlieghe Sees Need for BOE Stimulus If Brexit Uncertainty Endures ——————————————————————————-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. Vlieghe Sees Need for BOE Stimulus If Brexit Uncertainty Endures2019-10-15 12:30:00.7 GMT By David Goodman and Lucy Meakin (Bloomberg) — Continued Brexit uncertainty would probablydepress U.K. economic growth and require further monetarystimulus from the Bank of England, according to policy makerGertjan Vlieghe. In a speech in London Tuesday, Vlieghe also suggested thateven in the case of an immediate Brexit deal, the argument fornear-term […] Read More
(TEL) Pound Sinks as DUP Says It Cannot Support Current Brexit Deal Plans … ——————————————————————————-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. Pound Sinks as DUP Says It Cannot Support Current Brexit Deal Plans – Live Updates2019-10-17 06:00:20.565 GMT By Louis Ashworth, Markets Reporter (Telegraph) — Agenda: Come or Arlene, or VAT’s all, folks? Good morning. There’s one story in town today: Brexit. The latestnews, from a few minutes ago, is that the Democratic Union Party,the group of Northern irish MPs whose […] Read More
USA UST:::: Everything fading the move on the steepening in UST’s we cant determine if its taking profit or putting on positions, but would imagine its a bit of column A and a bit of column B, we have int currently to do the same in 2/10 and 5/20 and 10/30 outside of the trades don into the exchange there were some chunky blocks towards the end of the LDN day. This was Friday… $1.15m […] Read More
for the RBA watchers Ashley Joye (ARCHR LLP ) Subject: FW: AFR – QE ‘most effective’ with broader fiscal policies QE ‘most effective’ with broader fiscal policies John KehoeSenior Writer Oct 8, 2019 — 5.30am https://www.afr.com/policy/economy/qe-valuable-with-fiscal-support-lowe-20191007-p52yaz Reserve Bank of Australia (RBA) governor Philip Lowe has endorsed “valuable” crisis-era central bank tools, such as buying financial assets and negative interest rates to protect economies from recession, but warned their use must be supported by […] Read More
(BFW) RBA Cuts Key Rate to 0.75%, as Seen by Most Economists Surveyed *RBA: WAGES GROWTH SUBDUED, WITH LITTLE UPWARD PRESSURE *RBA: PREPARED TO EASE MONETARY POLICY FURTHER IF NEEDED *RBA: BOARD WILL CONTINUE TO MONITOR DEVELOPMENTS *RBA: INDICATORS SUGGEST EMPLOYMENT GROWTH LIKELY TO SLOW *RBA SEES INFLATION A LITTLE UNDER 2% OVER 2020 *RBA: MAIN UNCERTAINTY IS OUTLOOK FOR CONSUMPTION *RBA: PREPARED TO EASE MONETARY POLICY FURTHER IF NEEDED *RBA: INFLATION PRESSURES LIKELY TO […] Read More
Focus Events, Tuesday 1st October (Times quoted BST) EU session: 05:30 – RBA RBA RBA RBA 08:15- US: Fed’s Evans (voter, Dove) at Bundesbank event 08:45- IT: Manufacturing PMI 08:50- FR: Manufacturing PMI 09:00- EZ: Manufacturing PMI 09:30- UK: Manufacturing PMI 10:00- EZ: CPI 10:20- AUS: RBA’s Lowe speaks following rates decision European supply: 10:30- UK: £2.25bn 20-year Gilts US session: 13:50- US: Fed’s Clarida (voter, Dove) at AI conference 14:30- US: Fed’s Bowman (voter, […] Read More
EXECUTIVE SUMMARY * XI HAILS FUTURE OF CHINA-HONG KONG BOND ON TENSE NATIONAL DAY * NY FED CUTS SIZE OF OVERNIGHT REPO OPS BACK TO $75BN * BLOCK BREXIT DELAY, BORIS JOHNSON URGES EU (THE TIMES) * LATEST RUMOURS RE: UK BREXIT PLANS NOT WELL RECEIVED IN IRELAND * ITALY LIFTS DEFICIT GOALS, BUT SEEKS TO AVOID EU FIGHT (RTRS) * WEAK 10-YEAR JGB AUCTION SEEN – WILL PRESSURE TY IF HONG KONG REMAINS STABLE […] Read More
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