MARKET ANALYSIS:
Key Points For Today's Trading:
- Markets were quiet yesterday but kept the Taper theme on going with Fixed Income moving lower in step with equity markets.
- Bunds hit a yield of 2.90%
- Bundesbank makes anti forward guidance comments (See article below)
- Geopolitical Risks are still present but the markets are waiting for the next move one way or another. Track WTI price action for confirmation
- India financial markets continue in turmoil as most EM awaits the inevitable SepTaper
- Asia volatility weighs on markets
- Relatively quiet day for Econ data as well
LIVE ECON DATA:
Real Time Economic Calendar provided by Investing.com
Key Points For Today's Trading:
SPEAKERS & AUCTIONS:
New 6y Gilt Linker //
SUMMARY:
Another relatively quiet day on the docket for Econ Data and Speakers. A couple of quick points (1) yesterday was a quiet as well and the Fed Taper theme continued throughout the day so no reason to think that will not be in play today (2) Germany's PPI on tap - markets could be sensitive to a higher reading given the Bundesbank's comments yesterday (3) U.S data highlight is Chicago Fed. (4) Watch out for a strong linker auction as that may put some real heat on Fixed Income
GLOBAL MACRO THEMES:
FED Tapering in Sept / Debt Ceiling / Student Loans and Muni's Defaults / Eurozone Dysfunctionality / China Slowdown / Japan's Money Printers / UK Improving on higher inflation and falling wages / EM Slowdown in Full Swing
HEADLINES:
Summary: IMPORTANT! Very thematic headline news this AM. Markets are imploding ahead of what we call SeptTaper. No reason to assume this trend won't persist unless CB's start taking to the wires soon.
Today's Trading News:
What Every Fed Head Will Be Looking At For The Next Month. - Zerohedge
No More ECB Rate Cuts - Economic Times
Rates are on the Rise and what that will means to Markets - CNN
Global Macro News:
Thai Baht Slumps to One-Year Low as Economy Enters Recession - Bloomberg
Tombini Says Brazil Traders Pushed Market Interest Rates Too Far - Bloomberg
Europe's Next Crisis? Migrant Flows Are Surging. - Zerohedge
What Is Going To Happen If Interest Rates Continue To Rise Rapidly? - Zerohedge
Today's Trading News:
What Every Fed Head Will Be Looking At For The Next Month. - Zerohedge
No More ECB Rate Cuts - Economic Times
Rates are on the Rise and what that will means to Markets - CNN
No More ECB Rate Cuts - Economic Times
Rates are on the Rise and what that will means to Markets - CNN
Global Macro News:
Tombini Says Brazil Traders Pushed Market Interest Rates Too Far - Bloomberg
Europe's Next Crisis? Migrant Flows Are Surging. - Zerohedge
What Is Going To Happen If Interest Rates Continue To Rise Rapidly? - Zerohedge
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