FTSE flat Cac +0.3% Dax -0.5% Ibex -0.1% FTSE Mib -0.6% European bonds Italy 2.67% -4bp Spain 2.48% -5bp Portugal 3.57% -7bp Germany 1.15% flat Bond yields continue to fall in the south with Spain and Italy hitting new lows.
BBVA now sees EUR/USD at 1.28 in Q2 2015 compared to 1.34 previously. For the end of this year, they now see 1.31 compared to 1.35 previously. Update: They say the policy divergence between the Fed and ECB will drive … Continue reading
This is quickly descending towards a trade war and I’m starting to get the feeling this will be the catalyst that leads to a long-overdue correction in stocks. France, the US, Germany, Britain and Italy will take further measures against … Continue reading
Fighting has been raging around Tripoli airport over the last few days and a rocket attack has hit a fuel tank containing 6 million litres of gasoline today. The increase in fighting in Libya has led to many embassies evacuating … Continue reading
Cable edged to 1.7001 but the momentum didn’t generate any kind of squeeze and the pair has quickly fallen back to 1.6987. Better stock market sentiment is giving the US dollar a broad lift. The S&P 500 has cut losses … Continue reading
Prior 11.4 Output index 19.1 vs 15.5 prior New orders 13.0 vs 6.5 prior Employment 11.4 vs 13.1 prior Wages unch 18.8 Capex 13.3 vs 12.7 prior Prices paid 25.4 vs 27.3 Slight fall in prices and unemployment the only … Continue reading
A soft pending home sales report and the continued bleed in European stocks has spread to broader markets. The S&P 500 is at a session low, down 11 points. US 10-year yields are back to unchanged at 2.46% USD/JPY is … Continue reading
Banks will take a total of €363 billion of the ECB’s initial TLTROs in September and December according to a Reuters poll. That’s a tough number to estimate and comes from a survey of money market traders. The total available … Continue reading
May need to raise rates if housing market risks persist and macroprudential toold don’t deal with problem UK economic recovery is becoming more balanced Output gap to narrow to 1.3% of potential GDP in 2014 GBP overvalued by 5-10% Further … Continue reading
Highlights of the US pending home sales report: The decline follows three months of increases Sales fell in the Northeast and the South, but rose in the West and the Midwest. Index at 102.7 Sales down 7.3% y/y vs -5.2% … Continue reading
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