News Headline Summary
Short sterling opens with gains of 1-3 ticks in the strip following the dovish comments from BoE's King late yesterday...
- BoE's King said the BoE is ready to provide more stimulus if needed, it is sensible to review BoE monetary policy regime and that it may be appropriate to review the UK's inflation targeting. King added that the MPC will continue to assess the merits of a rate cut, and Q4 GDP considerably weaker than Q3 GDP.
- He also commented that it would be irresponsible to lose a long run 2% inflation target. (Newswires)
- His successor Carney who is due to take over on July 1, discussed the virtues of a nominal GDP target as a policy tool, having raised the topic of potential limits of inflation targeting.
- GBP/USD is also trading heavy this morning on the back of the comments.
07:34, 23 Jan 2013 -
09:26, 18 Jan 2013
- Euribor strip remains underpressure, down 3-5 ticks, with the EONIA curve steeper as market participants position ahead of LTRO redemptions...
18:40, 16 Jan 2013
Next resistance in the S&P 500 cash is seen at 1474, a move above could force some stop out selling of the long-end positions in the US fixed income market
18:21, 11 Jan 2013
US T-notes print fresh highs, breaking above 131.29 which was a level of resistance in Wednesday's trade; 10y yield tests 1.87% to the downside
08:03, 10 Jan 2013
UK index-linked bonds open the session sharply higher after the ONS said the UK will continue to publish RPI, formula will not change
12:57, 09 Jan 2013
T-notes sess a move to fresh session highs at 131.30 as the 10y yield falls below 1.86%, and ahead of USD 21bln in 10s supply this afternoon; T-notes trades 131.29 last (+1+ ticks)
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