Strange and "no news" drop in EURUSD and stock index futures down as well. Macr0man tweeted Euro
falling.. some idiot or computer looking at germany/spain spreads seeing 36bp
wider not realising benchmark bonds changed?
Saxo's FX dealer said: Loads of speculation doing the rounds at the moment. Spain disagreeing with bailout terms, Greek creditors not able to agree on repayments, European CB selling are the most popular explanations right now. What is real is the quite hefty pop in German bunds. Also, Spanish 10y yields seem to trade ard. 30 bp higher. However, take the latest reason with a pinch of salt as there is talk that yesterday BBG has changed the benchmark for it's Spanish 10y generic yield.
@GlobalMacroZen: Bloomberg
(by mistake) changed overnight its 10yr Spanish benchmark to the jan24, which
is an 15yr off-the-run. This leads
to an unreal showing of 30bps widening in the day for the 10yr sector.Just
disregard it. Spanish 10yr benchmark is 4 wider
Saxo's FX dealer said: Loads of speculation doing the rounds at the moment. Spain disagreeing with bailout terms, Greek creditors not able to agree on repayments, European CB selling are the most popular explanations right now. What is real is the quite hefty pop in German bunds. Also, Spanish 10y yields seem to trade ard. 30 bp higher. However, take the latest reason with a pinch of salt as there is talk that yesterday BBG has changed the benchmark for it's Spanish 10y generic yield.
Previously on MoreLiver’s
Roundups
News
roundup – Between
The Hedges
The 6am Cut
London – alphaville
/ FT
Emerging Markets
Headlines – beyondbrics
/ FT
Reference
Debt
crisis: live – The
Telegraph
The Euro
Crisis Blog – WSJ
FX Options
Analytics – Saxo
Bank
European
10yr Yields and Spreads – MTS indices
MORNING BRIEFINGS
Is South Africa facing one of its greatest post-apartheid challenges?
With most bullish post-NFP positioning wiped
out overnight, Asia spent the session consolidating off yesterday’s lows with a pickup in
risk appetite helping.The AUD was generally supported during the session with a strong rebound in China equities.
Market Preview: Samaras-Merkel meeting – Saxo
Bank
European markets are seen opening higher
Tuesday on hopes of further stimulus measures from China. Meanwhile, the IMF
has lowered its 2012 and 2013 global economic growth forecasts. Focus is on a
meeting between Angela Merkel and Georgios Samaras.
Danske Daily – Danske
Bank (pdf)
The Eurogroup embraces the Spanish reform
programme and Greece’s fiscal efforts. IMF lowers its global growth forecast further. Focus
today will be on Merkel’s visit to Athens and the ECOFIN
meeting.
Aamukatsaus – Nordea
(pdf)
Euroopan pysyvä
vakausrahasto vihitty käyttöön – Kreikassa epävarmuus jatkuu * IMF:ltä
pessimistisempi kasvuennuste * Suomen vienti yllätti iloisesti
Aamukatsaus – Tapiola
(pdf)
Osakemarkkina
vastatuulessa ennen tänään alkavaa USA:n tuloskautta. IMF laski
maailmantalouden kasvuennustetta, eurokriisin vaikutukset odotettua suuremmat. Euroopan
valtionvarainministerit kiittelivät ja patistelivat Kreikkaa, seuraava paketti
luultavasti maksetaan. Tänään Kreikkaan matkustaa Merkel. Ulkomaalaisomistusten
muutokset - syyskuu: Riski kiinnosti ulkomaalaisia syyskuussa: syklisiä
ostettiin ja defensiivisiä myytiin.
Morning Briefing (EU/US): Prices you can ill
afford – BNY
Mellon
On the subject of Norway’s house price boom
Markkinakalenteri – Nordnet
Markkinakalenteri – Taloussanomat