EUR/USD
1.11568
-0.148%
Gold
3997.66
-0.479%
Oil
101.565
1.013%
USD/JPY
157.850
0.230%
GBP/USD
1.33234
-0.136%
GBP/JPY
210.313
0.100%
Real-time News
On October 27th, Jefferies Global Economist Mohit Kumar stated in a report that Jefferies maintains its bullish view on five-year US Treasury bonds (i.e., expecting yields to decline) as major central banks hold monetary policy meetings this week. He stated that Jefferies still believes that the actual number of rate hikes by major central banks will not be as many as the market currently prices in. Consistent with most market opinions, Jefferies expects neither the Federal Reserve nor the European Central Bank to raise interest rates on Wednesday or Thursday. Kumar stated, "We still expect the Fed and the ECB to each raise rates once in December. By the time of their policy meetings next March, our base case is that oil prices will have already begun to decline, therefore central banks will no longer need to raise rates."Bernd Lange, Chair of the European Parliaments Committee on International Trade: Following Canadian Prime Minister Carneys symbolic speech at the European Parliament, it is time to take concrete action! The momentum is strong, and we must accelerate! This weeks EU-Canada summit in Montreal presents a perfect opportunity to push for implementation.Bernd Lange, Chair of the European Parliaments Committee on International Trade: The EU and Canada can be the starting point for building a "club of democratic nations," creating an open and reliable network of partners to safeguard common interests, defend international rules, and strengthen the role of the World Trade Organization (WTO).October 27th - Eurozone government bond yields opened mixed, with French bond yields remaining largely stable while German bond yields declined. Commerzbank analyst Christoph Rieger stated in a report, "Overall, we believe the market will struggle to find new direction ahead of the major central bank monetary policy meetings later this week." The market is currently awaiting the monetary policy decisions from the Federal Reserve on Wednesday and the European Central Bank on Thursday, with both central banks widely expected to maintain their current interest rates.On October 27th, the market breathed a sigh of relief after Moodys did not downgrade Frances sovereign credit rating last Friday, but "the overall situation remains unchanged." ING senior interest rate strategists Michiel Tukker and Benjamin Schroeder stated in a report that they remain wary of widening spreads given the significant political risks ahead. The spread between the yields on French 10-year government bonds (OAT) and German government bonds (Bund) closed at 153 basis points on Monday, after reaching 177 basis points last week, the widest level since 2011. Moodys maintained Frances credit rating but kept its "negative" outlook. Strategists noted that France still needs to make "significant and sustained fiscal efforts" to avoid a downgrade.
