Analysts lowered United Kingdom inflation expectations for December to 4.2% from 5.0% in November with expectation for an even lower rate in the beginning of 2012...
The US Employment report turned out to be even better than we speculated this morning though some revisions to November balance it out somewhat. Nonfarm Payrolls rose 200K.
The just released ADP Employment report for December shows the single largest increase in private payrolls since records began in 2001 with the previous best being 275,000 in February 2006.
The core uncertainty that dominates both the global macroeconomic backdrop and the key driver of financial markets is still ‘uncertain’ and low liquidity remains the dominant feature of financial markets, particularly FX.
Even in the G7 universe, not everything needs to be traded against the EUR or USD. It’s like playing dress ups when you were a kid, mix and match. There is relative value to be found out there, it’s just a matter of finding a way to express it.
2011 was not a kind year for mostly everyone involved in the currency markets. Patience and risk management were the watchwords of the year and choppy markets made setting risk parameters a new art form. Most analysts expect more of the same in 2012.
After several days of catatonic market “action”, volatility perked up yesterday and today with the Italian bond auctions and probably also due to an early start to end of month/year fixing flows in thin markets.
There’s little to report after a quiet holiday weekend as Europe and North America are taking a well deserved break from trading. Still, it’s useful to ponder the extreme speculative positioning in the US currency futures market.
With yesterday’s US House of Representatives move to temporarily extend the key payroll tax cut and other measures, the odds are rising that we ease quietly into the New Year, even if volatility may return quickly in January.
The market activity has been glacial over the last several days, but is suddenly kicking into gear ahead of US equity trading today on no readily discernible catalyst. We should all be reminded that quietude and complacency often flag danger ahead.
Finance News - The average rate on the 30-year fixed mortgage fell to 4 percent this week, nearly matching the all-time low hit just one month ago.
Freddie Mac said Thursday the rate on the 30-year loan dropped from 4.10 percent last week. Four weeks ago, it dropped to 3.94 percent -- the lowest rate ever, according to the National Bureau of Economic Research.
Finance News - GERMANY'S finance minister was spreading gloom and it was GREAT. For a split-second, the bigger picture went completely out of the window as I became a stock market trader for a day. I was betting big on a share price plunge and everything relied on Wolfgang Schuble. Right on cue, a tannoy blasted: "Schuble says terms of Greek bailout may need to be revised." Pandemonium everywhere
Risk will look forward to Wednesday's FOMC announcement with expectations mounting that the Fed will initiate a so-called Operation Twist. A Friday meeting between EU finance ministers of the monetary union failed to produce anything of note.
Globular regulators said banks held also big to go bad must hold as very much like twenty-five percentage points in another capital as part of efforts to prevent a different financial crisis. As a lot as thirty banks might face some level of surcharges, according to a person familiar with the discussions.
The Securities and Exchange Commission announced Tuesday. PMorgan has agreed to pay $153.6 million to settle charges it misled investors in the sale of a complex mortgage-backed security
