What to make of USD/CHF at parity?
As James Knightley noted in his review of the September US CPI release, core inflation has not been this high since 1982. This suggests there will be no letup in the Fed's hawkish rhetoric and, consequently, markets are still searching for the terminal rate of this Fed hiking cycle. Those trying to pick a top in the cycle are continuing to be swept away. From pricing the Fed terminal rate at 4.45% barely two weeks ago, 23 March Fed fund futures now price the top near 4.90%. The poor inflation print saw some immediate bearish flattening of the US 2-10 year Treasury curve (US two-year Treasury yields are now 4.45% ... (full story)
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tweet at 8:56am: Putin: No Need for Massive Strikes on Ukraine Now. That's for Now, but We Will See. Direct Clash of Nato Troops with Russia Would Lead to Global Catastrophy. tweet at 8:47am: PUTIN: IF IT TURNS OUT THAT HUMANITARIAN CORRIDORS FOR UKRAINE GRAINS ARE USED FOR TERROR ACTS, THEN THERE IS NO NEED FOR SUCH CORRIDORS PUTIN: NO PLANS FOR ADDITIONAL MILITARY MOBILIZATION IN RUSSIA PUTIN: IN NEXT TWO WEEKS MOBILISATION WILL BE OVER tweet at 8:39am: PUTIN: WE RESPECT THEIR POSITION, BUT WE KNOW THAT KYIV DECIDED NOT TO PROCEED WITH TALKS PUTIN: WE ARE OPEN FOR TALKS, WE HAVE ALWAYS SAID THIS
tweet at 8:54am: JEREMY HUNT APPOINTED AS UK'S NEW FINANCE MINISTER - Reuters via https://t.co/ymHY6xloQb
US retail sales were expected to rise 0.2% MoM in September but instead were disappointedly unchanged. On a year-over-year basis, retail sales (nominal) rose 8.2%, the weakest ...
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The Conference Board Leading Economic Index®(LEI) for the United Kingdom declined by 0.5 percent in August to 80.7 (2016=100), following a 0.6 percent decline in July. The LEI ...
tweet at 9:34am: UK PM TRUSS: I WANT TO DELIVER A LOW TAX, HIGH WAGE, HIGH GROWTH ECONOMY - Reuters via https://t.co/ymHY6x4lOb tweet at 9:34am: UK PM Truss: - I Am Not Prepared to Accept Lack of Growth for Our Country - From Day 1 I Have Been Ambitious for Growth - Since 2008 UK Potential Has Been Held Back - I Want to Deliver a Low Tax, High Wage, High Growth Economy tweet at 9:35am: Liz Truss says it is clear that parts of. Uni budget went due to re and faster than markets expected ‘We need to act now to reassure the markets of our commitment to fiscal discipline’ She confirms she will raise corporation tax from 19 per cent to 25 per cent - a huge u turn tweet at 9:36am: UK PM Truss: - Spending Will Grow Less Rapidly Than Planned - Sorry to Lose Kwarteng - Finance Minister Hunt Shares My Convtictions - Hunt Will See Through Support We Are Providing Families and Businesses - Hunt Will Deliver Medium Term Fiscal Plan
Prime Minister Truss has sacked Chancellor Kwarteng in an attempt to reinforce her position and there will be a further U-turn on fiscal policy with strong expectations that the ...