7 of the 17 US Fed officials oppose Treasury buying at August meeting
International Trading
Quote:
‘Me this unchartered freedom tires;
I feel the weight on chance desires:
My hopes no more must change their name,
I long for a repose which ever is the same.’ William Wordsworth (1770-1850)
The News:
Wall Street Journal says 7 of the 17 US Fed officials oppose Treasury buying at August meeting.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
02:30 JP auction result of 20-year JGB: average yield 1.548%, stop 1.553%, bid-to-cover 2.86.
07:00 DE final Q2 GDP +2.2% Q/Q, +3.7% Y/Y, versus +2.2% and +1.6%.
09:30 GB July BBA Mortgages (333.5K to 36.0K versus 34.8K June).
10:00 EZ16 June Industrial New Orders (+0.1% to +2.0% M/M, +20.0% to +27.0% Y/Y, vs +3.8% and +23.0% May).
13:30 CA June Retail Sales (+0.2% to +0.8% M/M, Ex-Autos –0.2% to +0.5%, versus –0.2% and –0.1% May).
13:45 US Fed’s Evans speaks at a community do, Indianapolis.
15:00 US July Existing Home Sales (4.3M to 5.2M versus 5.37M June).
15:00 US August Richmond Fed Manufacturing Index (6 to 14 versus 16 July).
00:50 JP July Corporate Services Price Index (-1.0% to –0.7% Y/Y versus –1.0% June).
00:50 JP July Trade Balance (Mizuho Securities 710B yen versus 687B June).
The Psychology:
Pakistan in talks with the IMF on economic prospects and its loan programmes.
The Risk:
Greek and Irish ten-year Treasuries trading at new record spreads over Bunds (875 and 320).
Today’s most interesting chart: Nikkei 225 Index
Lowest since May 2009 and key 9,000 level.
