Markets moved to a risk-off posture on Thursday after problems surfaced
in a major Portuguese bank. The issues triggered strong intra-Eurozone
flows and gave the USD a flight-to-safety bid. The EURUSD continues has
retested the 1.3600 line.
Yields in prime Eurozone fixed income
markets are broadly lower. Yields on the European
periphery are higher, especially in Portugal. The German 10-yr bund is
1.21%, -2bp.
The U.K.10-yr gilt yield is
2.63% -4bp. Odds still favor a +25bp BOE short-term rate hike by
yearend.
U.S.10-yr yield is 2.52%, -6bp.
Equities closed mixed in the
Far East. Bourses in Europe are ending lower. U.S. shares are weaker.
The heat map color scheme
of interest rates reflects yields. This aligns all the colors in the
chart to reflect risk-on (green) and risk-off(red).
dc CB 15:05:38 GMT - 07/10/2014
dc CB 17:53 GMT July 3, 2014
the Facebook Emotion boys will be out in force starting sometime Tues, prob after the 3Y auction tails.
Repeat of the last week in June??, as soon as the thurs auction was put too bed, stox, particularly the NDX never looked back. Futures @ 3800 to finish today at 3917. not bad for a weeks work.
++++++++++++++++++++++++++++++++++++++++++++++++
STOX front running the Obvious?
Those Primary Dealers took 46+% of the 10s yesterday...covered their costs and got some nice "Collateral" for da Books.
sofar only approx 0.75% slide in US stox
note that -10% is, by convention, considered only a correction within an uptrend
Mtl JP 14:10:00 GMT - 07/10/2014
GVI Forex john 13:35 GMT July 8, 2014
Risk On/Off Heat Map: Reply
10-yr 2.578% -4bp
Its a long way to 2.50% would take a serious slide in shares to get there.
-
seems like stox have some ways left to go yet to qualify as serious slide
GVI Forex john 13:50:04 GMT - 07/10/2014
What a difference a week makes. Last Thursday (after the 288K increase in NFP), the 10-yr closed at 2.650%. Today its been testing 2.50% off an on.
The life of a bond trader can be interesting.
GVI Forex john 12:54:42 GMT - 07/10/2014
DJ -160
SP -19
10-yr 2.498% -8
DAX -169
GVI Forex john 10:37:23 GMT - 07/10/2014
Risk-off
DJ -132
S&P -16
10-yr
US 2.507% -8bp
EZ 1.170% -6bp
UK 2.580% -8bp
PO 3.990% +21bp
BOE at the top of the hour.
GVI Forex john 09:38:50 GMT - 07/10/2014
10-yr bund now 1.18%, -5bp on EZ flight to safety.
GVI Forex john 09:33:30 GMT - 07/10/2014
Banco Espirito Sancto (BES) worries certainly a reason why Portuguese yields are higher and also a weight om the prices for other peripheral bonds this week. They are giving prime government bonds a bid.
This raises doubts about the wisdom of recent moves out of the prime credits in the EZ to the higher yielders? They had higher yields for a reason!
BES fueling the risk-off trade today. See story below.
Frankly I don't see how this can be EUR positive? Any thoughts?
GVI Forex john 09:05:31 GMT - 07/10/2014
Markets
have gone back to a risk-off posture in the wake of the Fed Minutes
released yesterday. some had been expecting a more hawkish
posture after a stronger June jobs report, even though the data came
out after the FOMC. EURUSD continues to try to distance
itself from 1.3600.
Yields in prime Eurozone fixed income
markets are mostly lower. Yields on the European
periphery are up again. The German 10-yr bund is 1.20%, -3bp.
The U.K.10-yr gilt yield is
2.62% -5bp. Odds still favor a +25bp BOE short-term rate hike by
yearend.
U.S.10-yr yield is 2.53%, -5bp.
Equities closed mixed in the
Far East. Bourses in Europe are lower. U.S. share futures are down.
The heat map color scheme
of interest rates reflects yields. This aligns all the colors in the
chart to reflect risk-on (green) and risk-off(red).
Actionable trading levels delivered LIVE to YOUR charts
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