FED: Any Balance Sheet/Admin Rates Discussion Eyed, Analysts Mixed On Tone (3/3)
Oct-08 15:32
In more of a curiosity, we will be intrigued by how Miran's last-minute introduction to the Committe...
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FED: US TSY 13W BILL AUCTION: HIGH 3.940%(ALLOT 33.04%)
Sep-08 15:32
- US TSY 13W BILL AUCTION: HIGH 3.940%(ALLOT 33.04%)
- US TSY 13W BILL AUCTION: DEALERS TAKE 36.48% OF COMPETITIVES
- US TSY 13W BILL AUCTION: DIRECTS TAKE 8.35% OF COMPETITIVES
- US TSY 13W BILL AUCTION: INDIRECTS TAKE 55.17% OF COMPETITIVES
- US TSY 13W BILL AUCTION: BID/CVR 2.81
FED: US TSY 26W BILL AUCTION: HIGH 3.730%(ALLOT 60.48%)
Sep-08 15:32
- US TSY 26W BILL AUCTION: HIGH 3.730%(ALLOT 60.48%)
- US TSY 26W BILL AUCTION: DEALERS TAKE 22.61% OF COMPETITIVES
- US TSY 26W BILL AUCTION: DIRECTS TAKE 9.62% OF COMPETITIVES
- US TSY 26W BILL AUCTION: INDIRECTS TAKE 67.77% OF COMPETITIVES
- US TSY 26W BILL AUCTION: BID/CVR 3.17
FOREX: CHFJPY Prints All-Time Highs Ahead of Schlegel Tomorrow
Sep-08 15:30
- The Swiss Franc has steadily gained over the last two sessions as NFP-driven lower yields coincided with higher geopolitical risk premia, propelling the currency's real, trade weighted valuation to its highest since late July.
- Price action was particularly notable against the Yen, which weakened today following Japanese PM Ishiba's resignation. Thatcherite MP Sanae Takaichi, a front-runner among many opinion polls, has unsurprisingly announced her intentions to run for LDP leader around two hours ago, having made clear her preference for easy monetary policy and a bigger role for fiscal spending previously.
- This has allowed CHFJPY to break to new all-time highs of 186.23, eclipsing a cluster of highs from July. While topside momentum has subsequently stalled, moving average indicators point continue to underpin a bullish trend. As expected, resistance levels remain scant for the cross, with 190.80 the next notable Fibonacci projection point.
- Société Générale think CHF is possibly a "winner in a world where GBP remains vulnerable to a fiscal/monetary policy mix that looks to get even more sterling-unfriendly, and the euro is hampered by events in France."
- Further developments in both France and Japan will likely prove key for the Franc over the next sessions, while SNB's Schlegel speaks tomorrow and Wednesday. These likely are his last appearances ahead of the SNB meeting later this month.
