Mar 04, 2015 13:00 pm UTC| Commentary
Quotes from Nordea Across the Euro area 10-year yields rose (excluding Greek yields) ranging from 1 bp to 8 bp depending on the proximity to Germany. The surprise of the day was that Greece will get financing from the...
Societe Generale: UK gilts to underperform further
Mar 04, 2015 12:58 pm UTC| Commentary
Quotes from Societe Generale Position for 5s10s curve steepening as political risks support the front-end safe-haven bidwhile risk premium is inserted into 10Y. Position for wider 10Y breakevens. Linkers should protect...
Societe Generale: Sterling – OK for now, but dangers lurk
Mar 04, 2015 12:55 pm UTC| Commentary
Quotes from Societe Generale We recommend re-setting long-term strategic short positions in GBP/USD close to theelection, hopefully at a level close to 1.60. We favour trading any post-election sterling strength...
Societe Generale: Heavily short Copper
Mar 04, 2015 12:53 pm UTC| Commentary
Quotes from Societe Generale Chinese growth is known as an important driver for prices of base metals such as copper. The heavy short positions (chart on page 10) convey the unease about the deceleration of Chinese...
Societe Generale: Hedge Funds anticipate further US yield curve flattening
Mar 04, 2015 12:51 pm UTC| Commentary
Quotes from Societe GeneraleFunds are short 10-year Treasuries and reinitiated long 30-year Treasuries as the favourable momentum in the labour market allows Fed Chair Yellen to leave the door open for Fed rate hikes in...
Societe Generale sees signs of sterling selling ahead of UK elections
Mar 04, 2015 12:49 pm UTC| Commentary
Quotes from Societe Generale Hedge funds are weary of the pound ahead of the general elections in the UK (read our Get set for UK elections) on 7 May. The net short GBP positions were only slightly reduced in view of...
Societe Generale: National Bank of Poland likely to cut rates
Mar 04, 2015 12:46 pm UTC| Commentary
Quotes from Societe Generale We expect the central bank of Poland to lower rates in two steps, by 25bp in March and by 25bp in April. A 50bp interest rate cut in one step is also possible but, in our view, less...