News Headline Summary
Following the latest comments from Fed's Bullard, which were generally less dovish than the tone of the FOMC and Chairman Bernanke on Wednesday, USD is seen to strengthen, with fixed income coming under pressure...
- Of note, Bullard said the decision between tapering and not tapering was a 'borderline' decision and no taper or a USD 10bln taper was 'not a big thing'.
- Many analysts have said a forecast will not take place in October, given that there is no scheduled press conference after the meeting. However, Bullard suggested a press conference could now take place after that meeting.
- The strength in EUR against USD that followed the announcement of a far larger LTRO repayment than expected earlier in the session, has now been pared, with EUR/USD now in negative territory at 1.3510 (-18 pips) last. Bund futures had already seen losses following the LTRO announcement, and the Bullard comments have resulted in steepening of the European curve.
- USD strength has weighed on the commodities complex, with both WTI and gold trading in the red.
12:10, 20 Sep 2013 -
13:08, 20 Sep 2013
T-notes have now recovered from earlier losses inspired by comments from Fed's Bullard, following short-covering by dealers as well as a degree of angst over the weekend's German election and possible announcement of the next Fed chair...
10:28, 20 Sep 2013
Money market rates continue to rise, with the Euribor curve now steeper and the move lower by Bunds saw the opening gap closed, following the release of the latest 3y LTRO repayment announcement by the ECB which saw banks repay much more than expected...
06:45, 20 Sep 2013
CENTRAL BANKERS HAWKS & DOVES CHEAT SHEET UPDATED IN THE RESEARCH SECTION OF THE WEBSITE - ECB's Liikanen, ECB's Weidmann, BoE's Weale, Fed's Kocherlakota, Fed's Tarullo, Fed's Bullard and Fed's George due to speak
19:36, 18 Sep 2013
FED SUMMARY: Fed's Bernanke finishes his press conference having maintained a dovish tone throughout, following the FOMC announcing its bond-buying programme as unchanged at USD 85bln per month...
18:22, 18 Sep 2013
FOMC RATE DECISION WRAP UP: Following the FOMC rate decision, T-notes moved to fresh session highs as the 10y yield fell to a fresh monthly low of 2.729%, the S&P 500 moved to a new all time high at 1721.86...
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