Archive for April, 2017
Thursday, April 13th, 2017
This is an excerpt from a piece written by Steve Feiss of Government Perspectives. The excerpt summarized dealer views on the break of resistance on the 10 year note at 2.28/2.30 and what that signals for the near term course of interest rates. If you have Twitter you can follow ...
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Wednesday, April 12th, 2017
Via UK Telegraph and Ambrose Evans Pritchard:
The Fed has waited long enough: Debt crisis looms as dollar tipped for major spike
2017-04-12 18:58:10.454 GMTThe Fed has waited long enough: Debt crisis looms as dollar
tipped for major spike
By Ambrose Evans-Pritchard, The Telegraph
April 12 (National Post) -- ANALYSIS
The world's leading currency institute is ...
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Wednesday, April 12th, 2017
Carmen Reinhart spoke yesterday at Harvard (where she teaches) and one of my contacts summarized her comments:
· The debt overhang in Europe will act as a constraint on ECB policy and she expects no action by the ECB this year (although they will need to announce something about the current ...
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Tuesday, April 11th, 2017
Via Marc Chandler at Brown Brothers Harriman:
Dollar Pushed Lower in Subdued Activity
Geopolitical concerns continued to be elevated
Oil is threatening to snap a five-day rally
There is little concession built for today's $20 bln auction of US 10-year notes
South Africa and Mexico report February manufacturing and industrial production
The ...
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Monday, April 10th, 2017
Via Marc Chandler at Brown Brothers:
Drivers for the Week Ahead
Even though the Federal Reserve does not meet, Yellen's speech on Monday (with live and Twitter-sourced questions) will be closely monitored
Economic data for the US and Europe may not be important drivers
The UK reports on inflation and employment ...
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Monday, April 10th, 2017
The Treasury will auction 3s 10s and 30s this week. Here is some interesting commentary from Ian Lyngen at BMO Capital markets on auction dynamic. This is an excerpt from a longer note to clients:
We’ll also see the takedown of the 3s, 10s, 30s trio of Treasury auctions on an ...
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Friday, April 7th, 2017
Via TDSecurities:
· The March employment report was a mixed bag on the surface, with payrolls disappointing sharply. But this apparent softness was more than offset by a significant and healthy drop in the unemployment rate and continued firming in wage pressures.
· The as-expected wage growth and out-sized decline in the ...
Posted in Uncategorized | Comments Off on Jobs Report Dissected
Friday, April 7th, 2017
Via Marc Chandler at Brown Brothers :
Dollar Firm Ahead of Jobs Report Amidst Rising Geopolitical Risks
The highlight today is the March US jobs data
Geopolitical concerns are rising, but the impact on markets is unclear
Canada also reports March jobs data
Mexico reports March CPI, which is expected to ...
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Thursday, April 6th, 2017
Via Marc Chandler at Brown Brothers Harriman:
Euro Resilient Despite Draghi's Dovish Signals
ECB President Draghi made it clear that the market’s hawkish take on recent comments was undesirable
Some points about the FOMC minutes are worth mentioning, as the Fed put a lot of focus on balance sheet issues
Reserve ...
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Wednesday, April 5th, 2017
Via Stephen Stanley at Amherst Pierpont Securities:
There were no Earth-shattering surprises in the March FOMC minutes, but, as usual, several useful nuances were revealed.
Economic outlook
Participants acknowledged that Q1 GDP was shaping up to be soft, mainly due to the soft January consumer spending figures. However, the FOMC was broadly confident ...
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