Wednesday November 28, 2007 - 17:16:25 GMT
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FX Blog: Market Snapshot N.Y. Mid-Session
GVI Market Snapshot-- N.Y. Mid-Session
- Demand for liquidity now the name of the game. Generating USD demand as funds are sucked in by U.S. institutions.
- Comments by Fed Governor Kohn thought to have signaled a Fed -25bp rae cut on December 11. Such an ease was already priced in.
- The one month maturity will soon start to extend beyond yearend. The focus increasingly now wil be on yearend liquidity for the major institutions. Liquidity concerns could constrain trading activity in December.
- Equities are up strongly in the U.S. Fixed income markets are weaker.
- The commodity currencies are better, Gold and oil are weaker. Liquidity demand?
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