Thoughts – Insights

"The Day Today" - 26 September 2016

* Ahead of tonight’s US Presidential debate, 34% of voters said it would be important to their decision * UK will become independent member of the WTO, Liam Fox will say this wk, so that it can negotiate its own deals outside of the EU – meaning it would leave the EU’s customs union *…

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"The Day Today" - 23 September 2016

* BOE Forbes sees no need for further stimulus and sees “more momentum” in the economy going into end of the year * BOE Financial Policy Cttee: “challenging period” ahead, commercial real estate transactions already at lows since 2009 *

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"The Day Today" - 22 September 2016

* Fed unch but says case for rate increase has strengthened. Dots go from 2-3-3 to 1-2-3 as future expected path of interest rates falls * 3 dissented, voting to raise rates now – but they drop off the voting roster next year *

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"The Day Today" - 20 September 2016

* ‘After the VIX climbed 40 percent in one day for its biggest daily advance since the Brexit vote, investors sold out of their VXX holdings at the fastest rate in a year’: BBRG * Moody’s: Banks can cope with loss of EU Passport * Ex-ECB

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"The Day Today" - 19 September 2016

* BIS Quarterly Review: “The apparent dissonance between record low bond yields, and sharply higher stock prices with subdued volatility cast a pall over such valuations” * ECB Weidmann: ECB “cannot solve all problems” * Fed Rosengren says low rates are not “costless” – he is worried about commercial . . . To read this…

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