Week ahead : U.S refunding, FOMC meeting (after 2mos of higher inflatin data, Powell Q&A interesting), BoJ minutes, China PMI, plenty of CB speeches, UK local elections,and NFP Friday, together with #USDJPY action, higher USDJPY from here clearly impacts #USDCNH and res of USD/ASIA, which is probably why BoJ is stepping in in short-term, failure to raise rates though, probably means USDJPY is not staying down for 'long' #volatile >>>> KEY will/would be if BoJ asks EU central banks to get involved or not
UST 10y yields have risen about 0.75% in 2024, global equities are up around 5%, credit spreads been tighter, volatility IS increasing though, #VIX #MOVE #GOLD #JPY etc and that should be a sign for many to 'lighten-up' on #highfrolonger
BoJ remains in a big spot of bother, you can's have it both ways ! debt does matter, the huge pile of debt has forced/forces BoJ to keep rates low, which implies currency continues to go int he gutter, till it creates other issues elsewhere (China, rest of Asia), which may force their hands
EURCHF - if JPY becomes to hard to short, market may well shift to #CHFfunding #CHFJPY lower finally?
GCC, OPEC Leaders Discuss Ways to Strengthen Energy Sector
Blinken is travelling to Saudi Arabia today for his 7th Mideast trip since Oct. 7, in what may be a final chance to secure a truce in Gaza and persuade Israel to call off a Rafah attack. Joe Biden spoke with Benjamin Netanyahu on Sunday about efforts to negotiate a hostage release
Neste OY, a leader in renewable fuels and circular economy solutions, unveiled its first-quarter 2024 results, demonstrating resilience amidst a weak renewables market >>> upgraded by GS and UBS
The working-from-home illusion fades. It is not more productive than being in an office, after all/Economist
U.S. Treasury refunding set to offer relief from supply rises. Reminder though.. : Treasury bond issuance in 2024 is expected to hit $1.9 TRN, surpassing levels seen even during the 2008 financial crisis (1.4trn)
Spanish opposition step up Sánchez attacks as PM decides on his future. PP leader accuses prime minister of navel-gazing, while Sánchez’s supporters rally in Madrid
Chinese #Stocks Draw Record $3 Billion Influx by Global Funds #HSI
#BTC falls again, as the cryptocurrency saw 2nd consecutive week of ETF net outflows for 1st time ever apparently
30-Year Mortgage Rates at 7.64%, the highest level in 5 months
Japan's yen jumps against the dollar on suspected intervention | Reuters Yuan Devaluation Debate Surfaces as Traders Weigh Next FX Shock (yahoo.com) >>> all is related to/with KRW, TWD and other Asian currencies..
Michael Pettis on X: "1/6 Bloomberg says that there is a small but rising expectation of an RMB maxi-devaluation: "Supporters of a sharp currency depreciation say it would allow Beijing boost exports and give the central bank room to cut interest rates." https://t.co/wzNr4vsg5L via @markets" / X (twitter.com)
Hong Kong’s Hang Seng Index Heads for Bull Market After 20% Rise From January - Bloomberg #Jancontrarianlows
Althea Spinozzi on X: "🇺🇸After the tax deadline, bank reserves at Fed drop by $200B, leaving Reserves+RRP at $3.7T With the ample reserve buffer estimated b/w $2.8T and $3.4T post-1Q GDP data, the Fed will push against cuts, but intensify discussions on QT tapering Next week's FOMC will be about QT❗️ https://t.co/wiklMNGIyn" / X (twitter.com)
Neste Navigates Resiliently Through Challenging First Quarter in Renewables Market | EuropaWire ONE for the future world ! >>> EU countries going to enforce use of Bio Diesel amongst other things
Scotland's leader faces a week of high-stakes talks to keep his job after the coalition's collapse (yahoo.com)
EURCHF - if JPY becomes to hard to short, market may well shift to #CHFfunding
Comments