HALISTER1: U.S. ECO PREVIEW: FOMC Policy Decision Due in 5 Minutes

U.S. ECO PREVIEW: FOMC Policy Decision Due in 5 Minutes

(Bloomberg) -- Federal Open Market Committee seen maintaining benchmark interest rate with 0.25% lower bound and 0.50% upper bound; things to watch include economic projections and Yellen’s press conference, click here for more.
  • Market assigning 2% probability of rate cut, 0% probability of hike, according to data compiled by Bloomberg
  • Research Roundup: No chance of June rate increase; Sept., Dec. Seen
  • See Bloomberg News:
    • Fed decision-day guide: pay attention to these words and dots
    • Rich Miller and Steve Matthews report Yellen faces dilemma as economy runs short of workers
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Topics
First Word DC - Foreign Policy

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UUID: 7947283

HALISTER1: UST Rally Looks ‘Fragile’ as Qtr-End Nears, Credit Agricole Says

UST Rally Looks ‘Fragile’ as Qtr-End Nears, Credit Agricole Says

(Bloomberg) -- Recent UST rally may have left leveraged investors “quite long and so the rally looks fragile,” particularly with qtr-end approaching, Credit Agricole strategist David Keeble writes in note.
  • “Exceptionally high” correlation between O/N GC repo suggests that funded investors are driving mkt movements
    • When USTs rally, leveraged investors are cutting shorts or increasing long positions
    • “Either way, there is an influx of collateral to the repo market, relative to the availability of cash”
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
David Keeble (Credit Agricole SA)

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UUID: 7947283