Aussie erases gains on Kent's comments
Aug 14, 2015 04:12 am UTC| Commentary
Dovish comments from Reserve Bank of Australia (RBA) Assistant Governor Christopher Kent saw a 0.3% gain in the Australian dollar against the US dollar all but wiped out on Friday. Kent said the central bank was keeping an...
Aug 14, 2015 01:38 am UTC| Commentary
Recent flow of funds data indicate that portfolio rebalancing activity in the private sector continues apace. From a long-term perspective, the change in fund flows should gradually push JGB yields higher. We were...
Aug 14, 2015 00:58 am UTC| Commentary
Long-dated forward rates have rallied to historic lows, and the curve has flattened aggressively. Fading the long end is always risky and best expressed via cross-market shorts versus Europe or forward curve steepeners out...
Euro area rates: Weekly review
Aug 14, 2015 00:45 am UTC| Commentary
In the illiquid August market, CNY devaluation and weaker oil prices have raised disinflationary concerns, favouring bullish moves in rates, which are likely to remain supported in the very near term. In the EGB market,...
Aug 14, 2015 00:27 am UTC| Commentary
The CNY devaluation and potential for greater market alignment argue for lower US yields, as the hiking cycle should be gradual and term premia should be lower. The reduction in Chinas Treasury holdings in this environment...
US retailers had a solid month in July
Aug 13, 2015 23:38 pm UTC| Commentary
U.S. retailers had a solid month in July, and June wasnt so bad either, with the benefit of hindsight and revisions. Total sales grew 0.6% in July, and Junes decline was erased to show a flat reading. So now, we can say...
Taiwan: A headline rate cut could do more harm than good
Aug 13, 2015 23:17 pm UTC| Commentary
Taiwans central bank reportedly lowered the overnight (O/N) guidance rate for a third consecutive day by another 0.2bp to 0.382% for a total of 0.6bp. This is after a long period of stability dating back to August 2012....