Archive - Nov 17, 2010 - Story

Data on consumer prices and housing starts, plus a couple of Fed speeches. Fourth POMO in a row better do something about finally getting a green close or stat arbs will lose all faith in Brian Sack.

RANsquawk European Morning Briefing - Stocks, Bonds, FX – 17/11/10

A combination of Fed front-running and perspectives of a more fiscally conservative Federal government (including the ever so independent Federal Reserve Bank) has had the bond market on the backfoot the past few days with a lot of stops being run through. As we discussed last week, how the market digests the actual liquidity injections by the Fed and the buybacks is what will drive all other asset markets. Indeed liquidity injections by central banks has been the sole driver of asset prices with the shadow credit markets contracting. - Nic Lenoir