STIR: ECB Rates Rally On Dovish Commentary But With Caveats
Apr-24 16:49
* Today's European rates rally has primarily been driven by dovish ECB headlines, even if there ha...
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US TSYS/SUPPLY: WI 2Y
Mar-25 16:47
- WI recedes to 3.985% from 3.990%, 18.4bp rich to last month's stop: 4.169% high yield vs. 4.179% WI.
FED: US TSY 2Y AUCTION: NON-COMP BIDS $415 MLN FROM $69.000 BLN TOTAL
Mar-25 16:45
- US TSY 2Y AUCTION: NON-COMP BIDS $415 MLN FROM $69.000 BLN TOTAL
FOREX: Most Recent Comments on EURUSD
Mar-25 16:43
- JP Morgan notes the dollar-downtrend has consolidated of late, perhaps reflecting heightened sensitivity to early-April tariff delivery, but for now JPM stick with more medium-term shorts. They continue to run USD-short positions via DXY, and on across a range of pairwise expressions (vs EUR, Scandis, JPY, AUD). These are strategic views, representing a combination of 1) the longer-term implications of the European fiscal plan, 2) JPM’s constructive Scandi views and 3) the broader ongoing carry-to-value rotation which should benefit from continued moderation of US data.
- ING said they saw upside risks for EURUSD today given the US consumer confidence risk event, but their preference remains for a depreciation to <1.07 in April.
- Rabobank see risks that EUR/USD could dip further on a 1-to-3-month view before climbing to 1.12 on a 1-year outlook.
