Anyhow…. CHF weakness, Yeah carry works in favor of chf weakness. Behind that is SNB recent communiques indicating chf strength has served its purpose. Maybe they haven’t fully embraced that they want immediate weakness but call it a suggestion. Behind the behind is that Swiss inflation is lowest among the big boys coming around or below 2% which puts them ahead in the crawling race to shift policy. CHF/JPY is a trade a lot of people are watching (selling chf buying jpy to be clear). BOJ when it gets around to it most likely will move in the opposite direction by backing away from yield curve control.
Levels to watch in the absence of being able to post a chart ->
eur/chf the downward sloping trendline on the weekly that currently comes around .9550.
usd/chf -> weekly .9200 daily .8820-.8850
See how….
This was posted by one of our long time GV members right after we launched our redesigned website less than 2 weeks ago
Good evening…
Finding your way on an empty road is sorta spooky. It’s kinda like EUR/USD that way.
It’ll be easier to navigate this place after more people sign on and post some messages.
DLRx 103.96
Fed Governor Kugler backs caution on rates – cnbc
““At some point, the continued cooling of inflation and labor markets may make it appropriate to reduce the target range for the federal funds rate,” Kugler added. “On the other hand, if progress on disinflation stalls, it may be appropriate to hold the target range steady at its current level for longer to ensure continued progress on our dual mandate.”
right adrainna & thks !
for dollar to get new uP oomph looks like puppy be needing new additional energy vectors in the form of posi-data
hello orwell
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* Nicknamed the “Broker Butcher,” Wu Qing was previously the acting vice mayor of China’s major financial hub Shanghai and served nearly two years as chairman of the Shanghai Stock Exchange.
* His predecessor Yi Huiman took the mantle of the CSRC in 2019, tasked to undertake a spate of sweeping capital markets reforms.
China appoints ‘Broker Butcher’ Wu Qing as new chairman of securities regulator cnbc & other wires
“In a time of Universal Deceit – telling the truth is a revolutionary act.” – Orwell
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fwiw:
Whatever it takes? There are those that are concerned about broader stability or systematic risks, especially if disruptions spread to financial markets and the real economy. Interest rates are also likely to remain high with the Fed taking a March cut off the table, while the long inversion of the yield curve isn’t helpful for banks that borrow short to lend long. A full contagion and CRE crisis could see thousands of banks fail under a worst-case scenario, according to SA Investing Group Leader Avi Gilburt, who explores non–owner–occupied property loans, office building vacancies and default rates in a recent Seeking Alpha article. (12 comments)
srce: Seeking Alpha
concerned yellen says stress is manageable
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“US Property Fears Send German Lender Bonds Plunging
(Bloomberg) — Losses in the commercial property market, which have already sent some banks in New York and Japan into a tailspin, moved to Europe’s biggest economy this week.
probably a good idea to wait a bit more before looking to buy some bottoms
water carrier jeff cox :
“Fed’s Neel Kashkari expects only two or three interest rate cuts this year”
https://www.cnbc.com/2024/02/07/feds-neel-kashkari-expects-only-two-or-three-interest-rate-cuts-this-year.html
Sitting here today, I would say, two or three cuts would seem to be appropriate for me right now,” he said during a CNBC “Squawk Box” interview. “But again, I don’t want to prejudge things, but that’s, that’s my gut, based on the data we have so far.” said the 2024 non-voter
What is the predominant market-driving theme this NY morning ?
10-yr 4.073%
euro 1.0771
– Res 1.0788, Sup 1.0740/30
I am biased. Looking for opps to sell as long as puppy holds 1.0810 Res
on deck
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11:00 – kugler
11:30 – collins
12:30 – barkin
13:00 – yellen’s dept peddles off 24bln of 10-yr paper
14:00 – bowman
15:00 – US consumer credit
15:15 – ramache
16:30 – nordstrom
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