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Some Like it Hot but Many do Not
Three events highlight the week ahead. The quarter-end can often experience heightened intraday volatility as investors and banks adjust positions and hedges. Hours before the end of trading for the quarter, the eurozone's preliminary estimate of June CPI will be published. Then, on July 2, ahead of a three-day holiday weekend in the US, the BLS will report the June employment data, which has disappointed expectations in the last couple of months. There are many asymmetries of information around the month-end and quarter-end adjustments. It seems very much the case that while a single order book may not be very ... (full story)