MNI: INVITATION: MNI Connect VC with ECB's Governor Olli Rehn On Mar 18
Feb-19 10:00
You are invited to listen to a Livestreamed MNI Connect Video Conference with Olli Rehn, Governor of...
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EQUITIES: Credit Agricole Option Vol trade
Jan-20 09:56
XCA (19th Sep) 14^, bought for 2.12 in 5k.
FOREX: CIBC Forecasting Just One BOJ Rate Hike in 2025, Recommend Long USDJPY
Jan-20 09:49
- CIBC are expecting the BOJ to hike this week, however, given most of the move is already priced in, they believe a hike would have minimal impact. Furthermore, CIBC expect the tone of the meeting will be dovish, which would dampen market enthusiasm of pricing in more hikes to come and they only expect the BoJ to deliver one hike this year.
- With this said, and counter to intuition, CIBC like positioning for USD/JPY appreciation ahead of the hike, and have recommended a tactical long at 156.00, with a target of 159.50 and a stop at 154.00
- Bolstering the trade, CIBC highlight that the Fed is more open to pausing, and with the US data not weak enough to warrant immediate cuts, a slower-than-anticipated pace for the Fed should dispel (or at least limit) any anticipation of rapid central bank divergence between US and Japan.
- Additionally, still attractive carry and a lower correlation to deteriorating risk sentiment should be supportive of the trade.
BUNDS: Block and Swap trades
Jan-20 09:48
Bund block trade, suggest seller.
- RXH5 ~2.12k at 131.67.
Bund Swap related trade suggest Payer:
- RXH5 1.84k at 131.72.
