CHILE: BCCh Expected To Extend Rate Pause Next Week
Apr-25 11:21
* USDCLP closed 1% lower yesterday at 934, amid a pick-up in copper prices and broad dollar weakne...
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US DATA: Mortgage Applications Track Sideways With Rates
Mar-26 11:15
- MBA composite mortgage applications drifted 2% lower last week (sa), building on the -6% the week prior that chipped away at a 34% two-week increase before that.
- Refis have led the modest pullback (-5% after -13% following 59%) whilst new purchase applications have largely paused (0.7% after 0.1% following 17%).
- The 30Y conforming rate inched 1bp lower to 6.71%, broadly consolidating around the 6.7% level for the past four weeks now having eased from a recent high of 7.09% in early January. It's a move that stoked a relatively modest uplift in activity when looking at broader trends.
SWEDEN: Government Aims To Increase Defence Spending To 3.5% GDP By 2030
Mar-26 11:13
Headlines crossing from the Swedish PM on Reuters:
- SWEDEN PRIME MINISTER: MUST RAISE DEFENCE SPENDING MORE THAN PREVIOUSLY PLANNED
- SWEDEN PRIME MINISTER: PROVISIONALLY PLANS TO RAISE DEFENCE SPENDING TO 3.5% OF GDP BY 2030
- SWEDEN PRIME MINISTER: WE ARE LOOKING AT A LOAN-FINANCED DEFENCE INVESTMENT UNTIL 2035, TOTALLING ABOUT SEK 300 BILLION
In the 2025 Budget Bill presented in September last year, the Government had committed to defence spending totalling 2.4% in 2025, rising to 2.6% in 2028.
BUNDS: Some selling flows are going through
Mar-26 11:05
- Some selling flows are going through, all orders related as oppose to new news headline, Bund has seen around ~60k in the past 25 minutes of cumulative Volume, latest saw 3x 5k clips.
- US Tnotes, is also sold in 6k. Noted Yesterday that a break through the 110.12+/110.10 area would have suggested some potential extension up to the 4.40% Yield level.
- While 110.12+ was broken, the 110.10/110.08 will now be the initial area to watch, TYM5 printed a 110.10 low Yesterday.
