Thoughts – Insights

"The Day Today" - 22 April 2015

* Euribor fixes in negative territory for the first time, meaning banks are getting paid to borrow money from other banks * ‘Sources’ say the ECB is demanding larger haircuts on collateral posted with them by Greek banks * Varoufakis “the convergence is . . . To read this article, please log in or sign…

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"The Day Today" - 21 April 2015

* Fed’s Dudley “timing of normalization remains uncertain because how the economy evolves is also uncertain” he also said they acknowledge that there maybe EM fall out from a US rate rise and they take this into account * Fed’s Rosengren wants a debate on “whether we have set the inflation targets too low” *…

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"The Day Today" - 20 April 2015

* China’s 100bp RRR cut is the biggest since Nov 2008 * ECB Draghi says he stands by his 2012 comment that the Euro “cannot be reversed” and that it’s “pointless to bet against the Euro”, at a G20 news conference * ECB

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"The Day Today" - 17th April 2015

* Fed Lockhart (centrist): ’I lean to a later lift-off date. To the extent you want to simplify that debate to June versus September, I lean to September. I don’t think, given the progress we have made, the state of the economy, and my confidence that the first quarter was an aberration, that it would…

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"The Day Today" - 16 April 2015

* Fed Lacker: “a strong case can be made that short term interest rates should be higher right now” * Fed Bullard: “Boom times ahead, plus us already charting out low interest rates, sounds like risky from a bubble perspective” * US

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