Archive for March, 2016
Tuesday, March 22nd, 2016
Via Marc Chandler at brown Brothers Harriman:
Terrorist Strike in Brussels Causes Market Angst
Bombing in Brussels disrupts capital markets
Japan's manufacturing PMI slips below 50
Flash eurozone composite PMI shows improvement, while German sentiment readings are mixed
Canada's new government presents its budget
US Fed officials playing up likelihood of another rate hike
The US ...
Posted in Uncategorized | Comments Off on FX
Tuesday, March 22nd, 2016
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
* Economic Data
* 9:00am: FHFA House Price Index m/m, Jan., est. 0.5%
(prior 0.4%)
* 9:45am: Markit US Manufacturing PMI, March P, est. 51.9
(prior 51.3)
* 10:00am: Richmond Fed Mfg Index, March., est. 0 (prior
-4)
* Central Banks
* 12:30pm: Fed’s Evans speaks in Chicago
* 7:00pm: Fed’s Harker ...
Posted in Uncategorized | Comments Off on What to Watch Today
Monday, March 21st, 2016
Via Bloomberg:
Fed’s Lockhart Urges Higher Rates, ‘Possibly Relatively Soon’
2016-03-21 16:40:00.10 GMT
By Steve Matthews
(Bloomberg) -- Federal Reserve Bank of Atlanta President
Dennis Lockhart says while he backed the Federal Open Market
Committee decision to keep interest rates unchanged last week,
continued economic growth is likely to require further
normalization later this year.
* “Although I believe ...
Posted in Uncategorized | Comments Off on Lockhart Calls For Higher Rates Soon
Monday, March 21st, 2016
Via Bloomberg:
(Bloomberg) -- Sanofi and Sysco might be the best bets for deals over the next 3 days, Bloomberg’s Robert Elson writes. Thursday is a 1/2-day session in front of the Good Friday close.
The calendar for today is empty, so far
Bloomberg survey of dealers and clients has 52% looking for ...
Posted in Uncategorized | Comments Off on Credit Musings
Monday, March 21st, 2016
Via Bloomberg:
’Brexit’ May Push GBP Down 10%, Euro-Area GDP to Zero: Barclays
2016-03-21 10:23:00.826 GMT
By Deborah L Hyde
(Bloomberg) -- A U.K. vote to leave the EU after the June
23 referendum would likely weigh on GBP, bull-steepen short-
sterling and spur further policy easing from the ECB and BOE,
Barclays’s analysts led by Philippe ...
Posted in Uncategorized | Comments Off on Barclays on Brexit
Monday, March 21st, 2016
This article bolsters my long held belief that the only perfect hedge is in a Japanese garden!
Via the WSJ:
By Susan Carey
March 20, 2016 7:01 p.m. ET
After decades of spending billions of dollars to hedge against rising fuel costs, more airlines, including some of the world’s largest, are backing off after ...
Posted in Uncategorized | 2 Comments »
Monday, March 21st, 2016
Via Bloomberg:
IG CREDIT: 10-Friday Moving Average Hits Record High
2016-03-21 09:42:19.911 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $14.1b vs $17.8b Thursday, $15.2b the previous Friday.
* 10-DMA $17.5b; 10-Friday moving avg $15.4b, the highest on
record since the series began in March 2005
* 144a trading added $2.8b ...
Posted in Uncategorized | Comments Off on Corporate Bond Stuff
Monday, March 21st, 2016
Via Marc Chandler at Brown Brothers Harriman:
Drivers--When a Quarter is Two Halves
After a horrific start of the year, the global capital markets have recovered in recent weeks
The ECB, BOJ, PBOC, RBNZ, Norges Bank have eased policy in recent weeks and the Federal Reserve scaled back anticipated hikes
US economy is not ...
Posted in Uncategorized | Comments Off on More FX
Monday, March 21st, 2016
Via Bloomberg:
Says strong U.S. dollar, oil price drop will be temporary
Inflation expectations are anchored, official says in Paris
Federal Reserve Bank of Richmond President Jeffrey Lacker said that inflation will rise back to the U.S. central bank’s 2 percent target once energy prices stabilize and the dollar stops advancing.
“I am reasonably confident ...
Posted in Uncategorized | Comments Off on Lacker Confident Inflation Will Return to 2 Percent
Monday, March 21st, 2016
Via Kit Juckes at SocGen:
http://www.sgmarkets.com/r/?id=h101a19a5,1653ca6b,1653ca6c&p1=136122&p2=5ec369c9abe36cbda5978fdf0c6c0228>
Daily link above. Slowish Monday with China up, oil down, Sterling IDS-ed....I'm celebrating Spring in Northern Finnish sunshine....and snow
The first day of spring in the Northern hemisphere (and Autumn in the South) sees a week with limited economic data and perhaps a lack of new drivers ...
Posted in Uncategorized | Comments Off on Early FX