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- ECB’s Draghi: Management of financial crisis so far has not been smooth, has increased market uncertainty
- Germany Sells E3.3138 Bln 3.25% Jul 2021 Bund; Avg Yield 2.7
- EU Zone May industrial output +0.1% m/m (vs median +0.5%)
- Mutterings of Kampo sighting in USD/JPY
- UK Analysis: June Claimant Count Rise Fastest For 2 Years
- UK DATA: Jun Claimant Count Unemployment +24,500…..
- USD/JPY slips lower
- BIS still seen taking some profit
- MeanwhileBank of Italy official: Burden of Italian spread widening limited in immediate term, would be damaging if these levels persisted
- EUR/USD extends gains
- BIS sells EUR/USD at 1.4055
- BIS seen buying at higher levels
- BOE Offers Unltd Usd In 7-Day Repo, Fixed Rate 1.08%
- EUR/USD moves higher
- Eurogroup Plans Greek Bond BuyBack At 50% Of Face Value;Press
- Calm after the storm. BIS being seen on bid in EUR/USD
- Japan EconMin Yosano: Volatile fx markets are undesireable
- German June wholesale prices -0.6% m/m, +8.5% y/y
- GERMANY DATA: June WPI unch m/m, +8.5% y/y; May y/y:.
- Rpt: UK Govt Pensions Liability Stg1.13trln- Treasury Source
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| Germany Sells E3.3138 Bln 3.25% Jul 2021 Bund; Avg Yield 2.7 Posted: FRANKFURT (MNI) – The German federal government topped up its 3.25%-coupon, July 2021 Bund by E3.31375 billion at a minimum price of 104.72, the Bundesbank announced Wednesday. The average yield on the top-up of the 10-year Bund was 2.7%, down from 2.96% at the bond’s previous top-up in June. The weighted average price came to [...] |
| EU Zone May industrial output +0.1% m/m (vs median +0.5%) Posted: +4.0% y/y (lower than median +4.8%) April industrial output confirmed at 0.2% m/m revised to +5.3% y/y (prev +5.2%) |
| Mutterings of Kampo sighting in USD/JPY Posted: There is talk circulating that Kampo has been seen on the bid in USD/JPY down around 79.20. Take it for what you will. Ive had enough for today. I’ll be doing the wrap and nothing else. Joe will be here. Hope he has more luck than me. |
| UK Analysis: June Claimant Count Rise Fastest For 2 Years Posted: –Jun Claimant Count Unemployment +24,500 m/m; Rate 4.7% –May Average Weekly Earnings +2.3% vs +2% in Apr –May Average Weekly Earnings ex bonuses +2.1% vs +2% in Apr –UK Mar-May ILO Unemployment -26,000 Q/Q; Rate 7.7% –UK May Claimant Count revised to +22,500 m/m from +19,600 LONDON (MNI) – Claimant count unemployment rose for the [...] |
| UK DATA: Jun Claimant Count Unemployment +24,500….. Posted: UK DATA: Jun Claimant Count Unemployment +24,500 m/m; Rate 4.7% –May Average Weekly Earnings +2.3% vs +2% in Apr –May Average Weekly Earnings ex bonuses +2.1% vs +2% in Apr –UK Mar-May ILO Unemployment -26,000 Q/Q; Rate 7.7% –UK May Claimant Count revised to +22,500 m/m from +19,600 ———————————————————————— Claimant count unemployment rose for the [...] |
| Posted: Presently at 79.25 with model funds notable sellers in recent trade. This mornings’ comments from Yosano/Shirakawa will have helped dampen fears of iminent official intervention. |
| BIS still seen taking some profit Posted: In recent trade i.e selling above 1.4050. It’s slowing the EUR/USD advance for now. We sit at 1.4052. |
| Posted: Got that right pumpkin!! Rapid and courageous decisions are needed, moves to balance budget should be brought forward 2011, 2012 GDP forecasts are justified, higher margin of uncertainty on 2013, 2014 forecasts Public finance data from first half of 2011 in line with target of 3.9%/GDP deficit Austerity package brings slight increase in fiscal pressure, [...] |
| Posted: Despite BIS offloading some at 1.4055, reports have Middle Eastern sovereign buying continuing. Stops were duly tripped through 1.4060 as we got to session high 1.4067. Talk of corporate sell orders up at 1.4075/90. We’re presently at 1.4055. |
| Posted: Nice job!!! |
| BIS seen buying at higher levels Posted: Being told they were still buying at 1.4020. We’re at 1.4042 having been as high as 1.4046 so far. Just getting confirmation buy stops through 1.4060. |
| BOE Offers Unltd Usd In 7-Day Repo, Fixed Rate 1.08% Posted: LONDON ((MNI) – The Bank Of England said Wednesday it was offering an unlimited supply of U.S. dollars in a 7-day repo operation, settlement date JuLY 14 maturing July 21 2011. The Bank said the repo would be at a fixed-rate, with the rate to be set at 1.08%. –London Bureau; Tel: +442076341655; email: ukeditorial@marketnews.com [...] |
| Posted: As well as reports of BIS buying I’m also being told Middle Eastern sovereign buying has been noted in recent trade. We’re up at 1.4430, just entering the zone where I was earlier told sell orders clustered. Will be interesting to see how resilient they prove. I AM HAVING PROBLEMS WITH SITE BEING SLOW AS [...] |
| Eurogroup Plans Greek Bond BuyBack At 50% Of Face Value;Press Posted: BERLIN (MNI) – The Eurogroup plans to give Greece money to buy back its bonds on secondary markets at an average of 50% of its face value, German business daily Financial Times Deutschland (FTD) reported Wednesday citing Eurogroup sources. This would be a voluntary haircut and would replace previous plans for a participation of the [...] |
| Calm after the storm. BIS being seen on bid in EUR/USD Posted: After yesterdays nonsense all’ s serenity so far this morning. Just how I like it We sit at 1.3995 hardly changed on the day. Just been told BIS seen on the bid at 1.3993. |
| Japan EconMin Yosano: Volatile fx markets are undesireable Posted: Up to markets to determine fx levels Yen gains due to selling of European assets on sovereign woes Hope officials prevent European sovereign crisis from having global impact UPDATE: BOJ’s Shirakawa – Won’t comment on forex, which moves on various factors (no kidding) And that old favourite – We’re watching forex moves carefully Yen rise [...] |
| German June wholesale prices -0.6% m/m, +8.5% y/y Posted: Weaker than -0.2%, +8.8% forecasts. |
| GERMANY DATA: June WPI unch m/m, +8.5% y/y; May y/y:. Posted: GERMANY DATA: June WPI unch m/m, +8.5% y/y; May +8.9% y/y: Destatis – Germany June WPI: solid fuels/oil products -2.1% m/m – Germany June WPI: ore/iron/steel/non-ferrous metals -0.2% m/m – Germany June WPI: grains/seeds/feed +0.7% m/m – Germany June WPI: fruits/vegetables/potatoes -2.0% m/m – Germany June WPI: data processing/communication -0.3% m/m – Germany June WPI: [...] |
| Rpt: UK Govt Pensions Liability Stg1.13trln- Treasury Source Posted: –Repeats Item Transmitted At 2130 GMT Tuesday LONDON (MNI) – A document to be published Wednesday will show that the UK public sector’s outstanding pension liabilities hit stg1.13 trillion for the financial year 2009-2010, well above the previous official estimate of stg770 billion for end fiscal year 2007-2008, according to a Treasury source. The source [...] |
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