Tag Archives: Daily News

US fiscal negotiations are taking longer than expected; US Treasury auctions $56 bln of 3-year notes; we believe the Fed is watching the yield curve closely; Brazil reports November IPCA inflation; Chile kept rates on hold at 0.50% and tweaked its asset purchase program UK Prime Minister Johnson is going to Brussels for high-level Brexit negotiations with EC President von der Leyen; there are no signs of progress in the EU budget and recovery fund negotiations;...

There are new efforts to pass another round of stimulus sooner rather than later; we warn against getting too optimistic; US bond yields rose in anticipation of stimulus; Fed Chair Powell and Treasury Secretary Mnuchin gave somewhat conflicting outlooks for the US The Fed releases its Beige Book report for the December FOMC meeting; ADP releases its private sector jobs estimate, with consensus at 430k; Brazil outperformed yesterday on positive fiscal comments from...

Stimulus talks continue but the goalposts have indeed been moved; the good news is that a package before year-end is looking more likely; optimism regarding stimulus continues to buoy US yields ISM services PMI is expected at 55.8 vs. 56.6 in October; weekly jobless claims data will be reported; Fed Beige Book report was suitably downbeat The noise level around Brexit continues to rise are we approach the finish line; eurozone and UK data came in firmer than...

The divergence in developed markets yield curves continues; the dollar is consolidating ahead of the US holiday FOMC minutes will be released; weekly jobless claims data will be released a day early; October personal income and spending will be reported; Banco de Mexico releases its quarterly inflation report UK Chancellor Sunak’s spending review will lay out his plans for next year; South Africa reported higher than expected October CPI Japan’s Cabinet Office...

Sentiment is being buoyed by two incrementally positive stories; cross-markets implied volatility measures continue to trend lower; dollar weakness has resumed President-elect Biden will reportedly officially name his first cabinet picks today; Fed manufacturing surveys for November will continue to roll out; Brazil and Mexico both reports mid-November inflation readings German IFO Business Climate survey for November was mixed; UK national lockdown will end next...

Covid vaccine results from AstraZeneca and Oxford University brought another wave of optimism; dollar weakness has resumed; that said, we will refrain from making any longer-term calls for the demise of the dollar Reports suggest President-elect Biden is pushing House Democrats to reduce the size of their fiscal package demands to unlock negotiations; Republicans have an interest in compromising President-elect Biden has reportedly picked his diplomatic team; it’s a...

The negative virus news stream is taking a toll on market sentiment; the dollar is benefiting from the risk-off price action but is likely to fade Weekly jobless claims data will be of interest; Fed manufacturing surveys for November will continue to roll out; Judy Shelton’s Fed confirmation is looking less and less likely The row about EU funding takes center stage today as leaders hold a conference call to iron out their differences; UK CBI November industrial...

The dollar continues to soften October retail sales will be the US data highlight; Fed manufacturing surveys for November have started to roll out; Republican Senator Alexander opposes Judy Shelton’s nomination to the Fed Newswires reported (again) that a Brexit deal is at hand; Hungary and Poland will veto the EU budget and recovery fund; ECB signaled that they are focused on asset purchases and long-term funding for the next round of stimulus; Hungary is expected...

The odds of national-level action in the US against the second wave virus outbreak remains small, even after Biden takes over; the dollar continues to soften There is growing speculation about former Fed Chair Yellen becoming Biden’s Treasury Secretary; Fed manufacturing surveys for November will start to roll out; Peru’s interim President Merino resigned under pressure from more demonstrations Several UK MPs and Prime Minister Johnson were forced to isolate due to a...

Pressure on the dollar has resumed; October CPI data will be the US highlight; US bond market was closed yesterday but yields have eased a bit today Weekly jobless claims data will be reported; monthly budget statement for October will hold some interest; Mexico is expected to cut rates 25 bp to 4.0%; Peru is expected to keep rates steady at 0.25% UK Q3 GDP rebounded strongly but September data show a loss of momentum; Brexit talks remain unresolved; the domestic...