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Released on Wednesday, Sweden’s economic tendency indicator dropped to 110.7 in August from 112.3 in July but, as France’s Credit Agricole had written ahead of the data release, the market was “looking for a slight cooling in business confidence in August.” It is Credit Agricole’s view that “it will take a sizeable data disappointment to[…]
In Yields We TrUST?
Foreign exchange traders don’t necessarily pay that much attention to US Treasury auctions but in current markets may wish to do so. Monday’s strong demand for 5-year US Treasuries (USTs) has rippled along the US yield curve driving the the yield on the benchmark 10-year UST down to levels not seen since last November. More[…]
BoJ Governor Kuroda Spells It Out: YCC
Bank of Japan (BoJ) Governor Haruhiko Kuroda’s interview with Bloomberg at Jackson Hole was quite revealing. Kuroda acknowledged that he thinks Japan’s current rate of 4 per cent growth is unsutainable and that, whatever the Fed and the European Central Bank (ECB) do in coming months on monetary policy, Japan’s continued lack of inflation necessitates[…]