This is an interesting price point for YM {97<GO>} lets see if the longs going in get some resilience here or stops get triggered into London session.. been a good level on a few occasions. the banks will start putting out pieces defending their cut calls and the statement is dovish etc, but as we have been putting out for the last 10 odd sessions, mkt was getting long YM vs everything, IR, IR reds, […] Read More
Jay Powell battles with messaging at the Federal Reserve Part of the problem for the central bank chairman is a lack of clarity of when to move on rates Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 […] Read More
GBP.. short sterling a little soggy after Corbyn cmmts? CABLE up – major parties now in panic mode to sort out brexit after the disastrous local election results Jeremy Corbyn, leader of Britain’s Labour Party, said on Friday local election results should spur lawmakers to find a way to break the deadlock over Brexit and “get a deal done” to leave the European Union. Corbyn was quoted by ITV as saying there was now a […] Read More
(BN) Bank of England Hints at Slow Hikes as Growth Outlook Raised ——————————————————————————-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 Hints at Slow Hikes as Growth Outlook Raised2019-05-02 11:00:03.442 GMT By David Goodman and Lucy Meakin (Bloomberg) — The Bank of England signaled that the marketis slightly underpricing the outlook for interest-rate increasesover the next three years as long as Brexit goes smoothly. Officials said the inflation rate will be above the 2percent target and rising in 2021 if […] Read More
A rate cut at next Tuesday’s Reserve Bank meeting is possible but remains most unlikely. I have to at least allow for the possibility after my unqualified prediction last week that there would not be a cut — against the all but entire economentariat rate-cut consensus — as my comment contained a significant error. MORTGAGE CUSTOMERS STUNG BY HIGH RATES CENTRAL BANK MAY NEED TO CUT BELOW 1PC I quoted the Financial Review as having […] Read More
BTP Longs At Extremes – BTPs stand out for their extreme long structural positioning in our latest update (as of April 26), with few changes seen elsewhere in futures positioning since April 12. – German futures have been relatively steady over the past month, with overall positioning unchanged. – Schatz positioning remains flat, with longs set last week. Bobl positioning remains long, with more longs set last week. – Bund and Buxl both remain flat, […] Read More
Frederik Ducrozet – Pictet-comments post data : To be sure, this week’s stronger-than-expected euro area data shouldn’t prevent the ECB from easing. Their key objective will be to *preserve* the fragile recovery, with soft-ish credit data also helping to justify TLTRO-III at negative rates, in our view. ——————————————————————————-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. Read More
EU To Reveal Max Trade Retaliation List Versus US By David Thomas LONDON (MNI) – The EU Commission is poised to publish next Wednesday a list of counter tariffs to US moves earlier this week to impose USD 11 billion of tariffs on EU exports. An EU official said that the list would be a “max-list”, entailing that only a subset of what is on the list of U.S. goods that could potentially be subject […] Read More
roll up and get your YM at these levels 53.5 iceberg seller there might not be many more of these to come we lift 3,000 off this price, we have had multi looks at 50/51 and you need some on the pad from here we were very vocal in the mid 60s to get short, going to be just as load at current levels to buy Read More
{9N} UBS: Kiwi cuts in May and August {9N} We now expect the RBNZ to follow through with action… The surprise dovish shift by the RBNZ at the 27 March OCR review caused us to remove hikes (pencilled in to start in May next year) from our forecasts. We now take the next step and expect the RBNZ to actually follow-through with the guidance that ‘the more likely direction of our next OCR move is […] Read More
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