Archive for the ‘Uncategorized’ Category

Surprise Rate Cut

Tuesday, May 3rd, 2016

Via the FT: Australia cuts interest rates to record low RBA cites weaker inflation outlook for cut to 1.75%, Aussie dollar tumbles 12 minutes ago by: Jamie Smyth in Canberra and Peter Wells in Hong Kong The Reserve Bank of Australia has cut interest rates to a record low of 1.75 per cent in a ...

Suspicious Trading Patterns

Monday, May 2nd, 2016

Via Bloomberg: ECB Paper Finds Suspicious Trading in U.S. Economic Indicators 2016-05-02 19:05:58.446 GMT By Jeanna Smialek (Bloomberg) -- A European Central Bank-published study found suspicious trading ahead of seven regular U.S. economic releases, saying information leaks probably helped traders make more than $160 million in profits in two markets over six years. Between January 2008 and March ...

ObamaCare and the Election

Monday, May 2nd, 2016

Via Politico.com The last thing Democrats want to contend with just a week before the 2016 presidential election is an outcry over double-digit insurance hikes as millions of Americans begin signing up for Obamacare. But that looks increasingly likely as health plans socked by Obamacare losses look to regain their financial footing ...

Euro Area Manufacturing PMIs

Monday, May 2nd, 2016

Via Bloomberg: Euro-Area Manufacturing Growing at `Anemic' Pace, Markit Says Fergal O’Brien May 2, 2016 — 4:00 AM EDT Euro-area manufacturing growth was little changed last month as stronger readings in Germany, Italy and Spain were offset by contraction in France. Markit Economics in London said its monthly Purchasing Managers Index points to “anemic” factory ...

Slow Bleed

Monday, May 2nd, 2016

Via Bloomberg: Katherine Chiglinsky May 2, 2016 — 5:00 AM EDT   MetLife Inc. Chief Executive Officer Steve Kandarian has a $350 billion problem. That’s the value of the fixed-income investments held by his company, the largest U.S. life insurer. When bonds mature, which happens a lot in a portfolio of that size, he typically ...

High Yield Bond Rally

Monday, May 2nd, 2016

Via Bloomberg: Christopher Langner May 1, 2016 8:46 PM EST After a scary start to the year, bond investors holding the riskiest debt will have been relieved to have ended April 5.3 percent ahead, according to the Barclays Global High-Yield Corporate unhedged dollar index -- marking the second month of a rally that ...

Deflation Protection in Europe Gets Cheaper

Monday, May 2nd, 2016

Via Bloomberg: May  2, 2016 — 6:03 AM EDT Signs that bond traders are becoming more confident that the European Central Bank’s unprecedented stimulus will boost inflation are gathering as derivatives which protect against deflation dropped to a 17-month low. Even after euro-area price growth declined last month more than economists forecast, traders ...

Deflation Protection in Europe Gets Cheaper

Monday, May 2nd, 2016

Via Bloomberg: 2, 2016 — 6:03 AM EDT   Signs that bond traders are becoming more confident that the European Central Bank’s unprecedented stimulus will boost inflation are gathering as derivatives which protect against deflation dropped to a 17-month low. Even after euro-area price growth declined last month more than economists forecast, traders are ...

More FX

Monday, May 2nd, 2016

Via Marc Chandler at Brown Brothers Harriman: Drivers for the Week Ahead The US jobs data is typically the data highlight of the first week of a new month; it has lost its mojo Another highlight at the start of a new month are the European PMIs, and so too this ...

Early FX

Monday, May 2nd, 2016

Via Kit Juckes at SocGen: <http://www.sgmarkets.com/r/?id=h10680d90,16d0aba3,16d0aba4&p1=136122&p2=0dcd1688bddcd3dd8f5af3e909200995> A Bank Holiday in London is going to give markets a quiet start to the week, and there isn't much on the data calendar to really shake things up. As ever, the first week of the month will see much attention paid to US non-farm payrolls, ...