So there was not much change in yesterdays rate meeting, other then being more stern with his words stressing, there is much the ECB can still do. So while the FED and BoE are looking to ease back the ECB is looking to do more, and this as you would expect gave a bid to Euribors and European Bonds, and Spreads flattened, however it didn't really last long as we came back up the spreads to pre ECB meeting levels, which gave a nice buying opportunity on the dip. The action wasn't too volatile, with the move up on the initial comments the main opportunity, as you can see below in the Euribor Dec15 Contract:
The main focus however is as always Non Farm Payrolls, a good number would almost guarantee more tapering in the next FED meeting, however a bad one would push treasury Yield lower and smack the Dollar in the process as well. ADP private payroll number forcasted a 238k increase, which was 40k more then expectations, so with that in mind, it is very possible we can see an number well above 220k.
Hoping for some good action!
The main focus however is as always Non Farm Payrolls, a good number would almost guarantee more tapering in the next FED meeting, however a bad one would push treasury Yield lower and smack the Dollar in the process as well. ADP private payroll number forcasted a 238k increase, which was 40k more then expectations, so with that in mind, it is very possible we can see an number well above 220k.
Hoping for some good action!
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