- EU’s Rehn: We are just about to close a deal on Greece PSI. If not today, maybe over weekend, we are “very close”
- EU’s Rehn: ECB actions not enough by themselves
- US Treasury Secretary Geithner: US growing at 2-3%, which is realistic
- German FinMin: Italy is decisively tackling reforms
- Soros: Germany unwilling to finance deficit nations
- Deutsche bank CEO: IIF offer for private sector contribution toward Greek bailout is almost 70 percent loss – NTV
- ECB buys Italian bonds, 5 & 7 years apparently
- Italian auction
- Portuguese 10 year govt bond yield hits new-era high at 15.24%
- Portuguese banks’ lending to private sector fell by 4.898 bln euros in December from November. Biggest monthly drop on record – ECB data
- IMF’s Lagarde: Not “terribly positive” about what done over Greece
- IMF’s Lagarde: There are “big worries” about what euro zone will do going forward
- German EconMin: Must implement EU’s December agreement
- Fed’s Lacker: Economic conditions not likely to warrant exceptionally low rates to 2014. Federal funds rate will need to rise before 2014 to prevent inflation
- Czech CB Gov Miroslav Singer: Greece should exit euro
- China’s very mysterious data – AEP at The Telegraph
Seldom have I heard so much hot air in one trading session. Everyman and his dog has been spouting off this morning.
EUR/USD is firmer. Up at 1.3148 from early 1.3095, having been as high as 1.3160. Looks like a Greek debt swap deal is a done deal and this has lent the single currency support.
USD/CHF down at .9180 from early .9210. EUR/CHF pretty steady at 1.2070. The BIS has apparently been sitting on the bid at 1.2060 this morning and this has lent some support to the cross.
USD/JPY tad easier at 76.95 from early 77.05. Talk of buy orders layered 76.90 down to 76.50 is slowing the descent. Kampo interest, unsurprisingly, is touted down at 76.50/60.
