The market is generally expecting a dovish FOMC statement. We have argued that it will most likely be little changed, except for modification relating to the asset purchases. Keen interest will be on its references to inflation. While the breakeven rates have fallen, the 5-year/5-year forward …
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Focus on Fed, but New Inputs for BOJ and ECB
With QE3 about to wind down, some are declaring that the age of Quantitative Easing is finally over. These probably forgot they said the same thing when QE1, QE2 and Operation Twist ended. Clueless “expertise” aside, who can really blame them: by now it has become all too clear that the Fed itself…
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The Schizomedia Does It Again
The US central bank is set to give its asset purchase ‘QE3’ program the final $15 billion kiss of death on Wednesday (while maintaining its existing reinvestment policy), majority of analysts expected, but clouds above America’s economy may give officials pause as they are expected to keep a “rates…
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FOMC Preview: QE3 To Be Killed, ‘Considerable Time’ To Stay
Brent crude oil was steady above $86 on Wednesday morning as investors awaited the results of the Federal Reserve’s two day policy meeting. The commodity traded at $86.47 at 7:45 GMT with the bank set …
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Brent Makes Modest Gains, Fed Outcome Awaited
The Industrial Product Price Index (IPPI) decreased 0.4% in September, mainly because of lower prices for energy and petroleum products. The Raw Materials Price Index (RMPI) declined 1.8% in September, largely as a result of lower prices for crude energy products. The IPPI decreased 0.4% in…
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Canada Industrial Product and Raw Materials Price Indexes, September2014
Hedge funds and other rapid-fire investors get access to market-moving documents before other users of the Securities and Exchange Commission’s system for distributing company filings, giving them a possible edge on the rest of the market, the Wall Street Journal reported, citing two independent…
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Studies find fast traders get data from SEC seconds early
The majority is anticipating that US policy makers will err on the side of caution in this afternoon’s policy statement. In translation, the impact of the FOMC on the currency market could be rather small as the Fed is not likely to mention a specific timeline for “normalcy” rates. The Fed is…
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FOMC To Play It Safe
3.91bln of bids but still technically uncovered; record low yield of 0.87%; bid/cover 1.2 vs 1.1 prev; Euro a tad higher on general demand. EURGBP popped 0.7900;
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German 10 year bund auction fills EUR 3.264 bln of 4bln target
BREAKING
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German Economy to Stagnate in 4Q, DIW Institute says
European policy makers have been their own worst enemy in the fight to avoid recession and deflation. Swedish central bankers’ decision to cut the benchmark interest rate to zero was the latest evidence that moving too fast to remove emergency stimulus is a risky business. “They’ve blown it,…
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How Sweden Joined Central Banking’s Hall of Shame
We’ll be counting the days Ardo; Estonian CB head on the wires;
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ECB’s Hansson says impact of recent measures should be seen around Spring 2015
British lenders approved the fewest mortgages in more than a year last month, as evidence mounts that a big rebound in housing market activity over the past year has come off the boil. The Bank of England said mortgage approvals for house purchase fell to 61,267 in September, down from 64,054 in …
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UK mortgage approvals fall to lowest since July 2013 in September
UK broad money, M4 excluding intermediate other financial corporations (OFCs), in creased by £9.4 billion in September , compared to the average monthly increase of £4.2 billion over the previous six months. The three – month annualised and twelve – month growth rates were 3.5 %…
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UK Money and Credit – September 2014
Here’s what to look for when the Federal Open Market Committee releases its policy statement at 2 p.m. today in Washington. Federal Reserve officials won’t provide new economic projections, and Chair Janet Yellen isn’t scheduled to give a post-meeting press conference. — With the FOMC poised to…
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Fed Decision Day Guide: FOMC Seen Focusing on Too-Low Inflation
Private sector growth in Britain slowed in the three months to October, a new report showed on Wednesday, which cautioned that overall economic growth would plateau in the final quarter of 2014. The Confederation of British Industry’s (CBI) latest Growth Indicator, which looks at the pace of eco…
Anyone betting on another “Great Rotation” of investment flows out of bonds and into stocks is in for disappointment: it’s not happening, and isn’t going to. In a world where deflation, never the most fertile ground for equities, is a bigger concern for policymakers than inflation, that seems a …
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The equity cult alive and kicking, despite deflation threat
85 prev; EURUSD going nowhere fast at 1.2740;
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French consumer confidence Oct 85 vs 86 exp
Britain’s ageing population has created a “debt timebomb” that can only be defused through a combination of significant spending cuts, faster increases in the state pension age and ending universal free healthcare, according to a respected think-tank. The Institute of Economic Affairs (IEA) warne…
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UK faces ‘debt timebomb’ from ageing population
The following are the intraday outlooks for USD Index (DXY), EUR/USD, EUR/JPY, SP500, and Crude Oil as provided by the technical strategy team at SEB Group. USD INDEX: Possible rechecking bull flag exit. The slow slide lower is most likely just part and parcel of a minor downside correction and…
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Intraday Outlooks For DXY. EUR/USD, EUR/JPY, SP500, Oil – SEB
Deutsche Bank reported a quarterly net loss of 92 million euros on Wednesday as heavy legal costs outweighed a rise in investment banking earnings. Germany’s top lender reported quarterly pre-tax income of 266 million euros, lifted by a 4 percent pre-tax profit rise from investment banking. Th…
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Deutsche Bank posts quarterly net loss as legal costs weigh
