FOREX - Trends, Forecasts and Implications (Episode 19: September 2012) - page 11
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isn't it early ? it looks like it should go to 1.022....
Ten-year German government securities are stable, with yields rising by a symbolic 0.3% to 1.35%.
In the debt instruments of Italy and Spain small purchases are observed. The yield of the Italian ten-year bonds is down 1.6% and stands at 5.81%, for the Spanish securities the decline is more modest 0.5% and the yield is near the 6.8%.
All eyes now are on the ECB that is to meet on Thursday. Recall that the head of the European Central Bank did not even go to Jackson Hole, as he had to deal with the conflict within the regulator. Now the main intrigue is whether the programme of bond buying of the troubled countries will be launched and what its scale will be.
Spain will place bonds with maturity up to 4 years on Thursday. This will be the first serious test since the beginning of August. Investor appetite for risk will be tested and the outcome of the auction will be a big factor in ECB's decision-making process. In addition, Spain is not in the best situation at the moment. The country needs additional financial assistance, but the country is not ready for new austerity measures. At least until the ECB starts buying securities. By the way, Spain's Prime Minister Mariano Rajoy said so in an interview with the local press.
It remains to add that Germany, Australia and France are also due to float this week.
Just like that... It's a day off in the US and forex is dead. Volatility is just on the verge of being fantastic.
:)))
couldn't resist....
and now it's like Uncle Puppet, on low liquidity, ripping everyone's shorts down to their knickers ))))
What time is the banker's speech today?
Auction of French government bonds (91-day, 168-day and 350-day maturities, E6.8bn) at 17:00 MSK