EQUITIES: Credit Agricole Put Option
May-14 10:56
XCA (20th June) 14p, sold at 0.03 and 0.06 in 6.5k....
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
STIR: Fed Rates Sticky For Upcoming Meetings, Dovish Shift Beyond
Apr-14 10:49
- Fed Funds implied rates are little changed for meetings out to July but after that increasingly lower on the day with latest announcements of tariff exemptions for electronic items potentially short-lived.
- The Dec’25 implied rate is 6bp lower from Friday’s close.
- Further out the curve, the SOFR terminal implied yield is 8bp lower at 3.32%, pulling back having fully retraced a large drop seen after “Liberation Day” tariffs.
- Cumulative cuts from 4.33% effective: 6.5bp May, 22.5bp Jun, 41bp Jul and 84bp Dec.
- NY Fed consumer inflation expectations will again be of more note than normal after the continued ramping higher in the U.Mich equivalent.
- Focus is also likely on Fed Gov. Waller (permanent voter) speaking on the economic outlook at 1300ET (text and Q&A). It’s his first comments since last week's "pause" and various Treasury / swap market dislocations.
- He talked on balance sheet matters back on Mar 21 to explain his dissent at the Mar 18-19 meeting (balance sheet caution has gone too far, with no evidence reserves nearing an ample level). He had earlier in March said there was nothing wrong with the forecast of two rate cuts this year in a rowing back of particularly dovish comments from January when he noted potential for three or four cuts this year.
OUTLOOK: Price Signal Summary - Gold Bulls Remain In The Driver's Seat
Apr-14 10:33
- On the commodity front, the trend condition in Gold remains bullish and last week’s rally confirms and reinforces this condition. The yellow metal has traded through $3167.8, the Apr 3 high, to resume the primary uptrend and trade to fresh all-time highs. Moving average studies are unchanged, they remain in a bull-mode position highlighting a dominant uptrend. Initial firm support lies at 3063.4, the 20-day EMA. Sights are on 3291.8, a 1.00 projection of the Feb 28 - Apr 3 - Apr 7 price swing.
- In the oil space, a bearish theme in WTI futures remains intact and last Wednesday's rally is - for now - considered corrective. The move higher is allowing an oversold trend condition to unwind. Recent weakness has resulted in the breach of a number of important support levels, reinforcing a bearish threat. A resumption of the bear cycle would open $54.26, a 2.236 projection of the Feb 11 - Mar 5 - Apr 2 price swing. Initial firm resistance is seen at $64.85, the Mar 5 low and a recent breakout level.
LOOK AHEAD: Monday Data Calendar: NY Fed 1Y Inflation Expectations, Fed Speak
Apr-14 10:31
- US Data/Speaker Calendar (prior, estimate)
- 14-Apr 1100 NY Fed 1-Yr Inflation Expectations (3.13%, --)
- 14-Apr 1130 US Tsy $76B 13W, $68B 26W bill auctions
- 14-Apr 1300 Fed Gov Waller economic outlook (text, Q&A)
- 14-Apr 1800 Philly Fed Harker on role of Fed (tex, Q&A)
- 14-Apr 1940 Atlanta Fed Bostic fireside chat on policy
