IMF: Notes only tradeable between governments, central banks
Looks as though a deep, liquid alternative to the Treasury market is far from assured as the IMF announces the outlines of its bond issuance plan. It will only issue notes as needed, they will only be traeable among the “official sector” and they will have a maximum maturity of 5-years. The IMF board did not set an limit on the amount of issuance.
Based on the headlines, this looks USD bullish to me as China will not have much of an alternative venue for reserves from these notes. Asa we said weeks ago, this is more of a political than financial exercise for China and the other BRICs.
EUR/USD is easing to 1.4144 ojn the news. 1.4125 is support.

AUTOREFRESH 













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