Tail(s) Wag Dog(s)
Another volatile if ultimately quite featureless day Tuesday in terms of net price movements across bonds, FX, and equities. The latter have just closed in New York with the S&P500 and NASDAQ both up around 1%. Netflix has jumped 10% post-close on an earnings beat and stronger than expected subscriber growth. The selloff in bonds, globally not just in New Zealand following the shocking upside surprise in its CPI report (both headline and underling measures) that was subsequently reversed in part on an FT report saying the Bank of England would likely not proceed with QT bond sales at month-end, has seen a ... (full story)
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The Bank of England will start its delayed bond sales early next month, but will initially exclude the long-dated debt at the heart of recent market turmoil following the ...
tweet at 6:59pm: JAPAN'S FINANCE MINISTER SUZUKI: CONSTANTLY MONITORING FX MARKETS. tweet at 7:08pm: JAPAN'S FINANCE MINISTER SUZUKI: WE WILL CHECK FX RATES MORE FREQUENTLY - JIJI. tweet at 7:09pm: JAPAN'S FINANCE MINISTER SUZUKI: WE WILL RESPOND APPROPRIATELY TO THE FX MARKET BASED ON EXISTING POLICY - JIJI.
GBP futures pull back from their intraday highs and close lower on the session. Dan Deming discusses.
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The yen carried on its seemingly inevitable march toward 150 per dollar, as traders scoured intraday moves for evidence of stealth intervention from Japan. Twice in under a week ...
tweet at 9:13pm: BOJ'S GOVERNOR KURODA: RECENT YEN WEAKNESS IS ONE-SIDED AND SHARP. tweet at 9:13pm: BoJís Gov Kuroda: - Extremely Important for FX to Move Stably Reflecting Econ Fundamentals - Recent Yen Weakening Sharp, One Sided - This Kind of Sharp, One-Sided Weakening Is Not Desirable For Economy
tweet at 9:37pm: BOJ'S ADACHI: SHIFTING TOWARD MONETARY TIGHTENING WOULD WEAKEN DEMAND, HEIGHTEN RISK JAPAN WILL REVERT TO DEFLATION tweet at 9:37pm: BoJís Adachi: - Japanís Economy Picking Up Despite Impact of Rising Commodity Prices - Japanís Prices Rising at Faster Pace Than I Initially Thought tweet at 9:38pm: BoJís Adachi: - Japan Still Half Way in Meeting BoJís 2% Inflation Target - Japanís Economy Vulnerable to External Demand Shock, Which Could Tip It Back To Deflation