The Day Today

The Day Today 12 Feb 2014

* Yellen verdict: Steady as she goes, which means that we can remain calm about higher bond yields. After all, 10yr at 2.7% is simply in the middle of a 6 month range. So, buy stocks, sell JPY, buy “good” EM and wear diamonds? [And who said women always cause drama…] – Hilsenrath: Fed’s Yellen Sets…

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The (Yellen) Day Today 11 Feb 2014

* She speaks! In her first big speech after taking over the Fed, we will hear from Janet Yellen herself at 1.30pm, in what used to be known as the Humphrey-Hawkins testimony. Although known as the arch-dove, will she deliver something less dovish now that she is speaking on behalf of the whole board? And…

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The Day Today 10 Feb 2014

* UK business optimism reached record levels in Jan – BDO annual business trends survey. Last year the same survey showed a 21 year low, so quite a turnaround! Telegraph: Interest rate increase ‘draws nearer’ http://bit.ly/1gf16Ql * Roger Bootle: Don’t blame the Fed for growth slowdown in emerging markets http://bit.ly/1h2TaVP   * FT: George Soros…

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The Day Today 6 Feb

So will the ECB deliver something substantial today? It could be a case of buy the rumour sell the fact, as anything they deliver is likely focused on the technicals of bringing down money market rates, rather than anything more dramatic. * Rating Agencies Differ on Impact of Debt-Ceiling Deadline http://on.wsj.com/1g4x2W0 * Options Narrow for…

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The Day Today 31 Jan 2014

* It’s been a strange start to the year, thank you very much Fed taper and emerging markets: Bonds Prove Bears Wrong in Best Start Since 2008 as Stocks Tank {fifw NSN N094H06TTDSC <go>} * U.K. Consumer Sentiment Rises to Highest Since Northern Rock Run – yes that’s the highest in almost 7 years {fifw…

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