ECB: Lagarde: Risks to Growth Tilted To Downsidde; Inflation Outlook Uncertain
Jun-05 13:02
On Growth: * Risks to economic growth remain tilted to the downside. A further escalation in glob...
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MNI: US REDBOOK: APR STORE SALES +6.7% V YR AGO MO
May-06 12:55
- MNI: US REDBOOK: APR STORE SALES +6.7% V YR AGO MO
- US REDBOOK: STORE SALES +6.9% WK ENDED MAY 03 V YR AGO WK
EQUITIES: Estoxx put spread
May-06 12:53
SX5E (17th Apr) 3500/3400ps, bought for 5 in 5k.
STIR: TD Securities Recommend Paying EUR 1y1y vs. GBP 1y1y/USD 1y1y.
May-06 12:50
TD Securities see “more room for USD front-end outperformance on a cross-market basis”.
- They believe that the expected “inflation bump in both the U.S. (H2) and UK (Q3) will be temporary supply- rather than demand-driven.”
- TD also highlight that “even though the UK's growth dynamics are closer to the Euro area, it still has a stronger beta to U.S. markets”
- Meanwhile, they expect “the ECB to ease to 1.5% or lower only if global conditions worsen. In that scenario again, it’s more like that the U.S. (or GBP) front-end still outperforms vs. EUR”.
- As a result, they recommended paying EUR 1y1y vs. GBP 1y1y/USD 1y1y.
