STIR: Repo Reference Rates
Sep-18 12:12
- Secured Overnight Financing Rate (SOFR): 5.38% (+0.00), volume: $2.161T
- Broad General Collateral Rate (BGCR): 5.33% (+0.00), volume: $803B
- Tri-Party General Collateral Rate (TGCR): 5.33% (+0.00), volume: $770B
- (rate, volume levels reflect prior session)
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STIR: Repo Reference Rates
Aug-19 12:05
- Secured Overnight Financing Rate (SOFR): 5.32% (-0.03), volume: $2.131T
- Broad General Collateral Rate (BGCR): 5.32% (+0.00), volume: $799B
- Tri-Party General Collateral Rate (TGCR): 5.31% (-0.01), volume: $778B
- (rate, volume levels reflect prior session)
GLOBAL POLITICAL RISK: Week Ahead 19-25 August
Aug-19 12:01
MNI's Political Risk team has published its Week Ahead article looking at some of the major political risk events taking place around the world over the next seven days. Includes info on the Democratic National Convention taking place with Harris, Walz, Biden, Obama & Clinton to deliver keynotes; US SoS Blinken in Israel to push towards Gaza ceasefire deal; and French President Macron holding talks with party group leaders in effort to find agreement on new prime minister.
Full article PDF attached below:
GBP: Goldman Sachs Recommend Long GBP/CHF, Targeting 1.16
Aug-19 11:56
- In a world where the Fed might need to cut rates faster and deeper to stabilize growth, Switzerland could need to adjust their policy strategies to offset the impact from safe-haven currency appreciation.
- While they cannot be sure, some evidence suggests the SNB already intervened to curb Franc strength during market turbulence last week. However, more persistent growth fears could warrant a bigger change in policy strategy. SNB would need to find a more permanent solution to curb currency appreciation.
- Their economists look for the SNB to keep rates steady, but if the environment shifts, some precautionary rate cuts now look more attractive.
- For that reason, they think CHF looks less attractive as a portfolio hedge, and instead think CHF funding is a good way to position with policy support for more benign outcomes; they recommend that investors go long GBP/CHF with a target of 1.16 and a stop of 1.10.
