BOE

FX Weekly Preview: All Eyes On Yellen, Trump And The Yield Curve

Looking to the week ahead, we have the FOMC meeting midweek, and for all the expectations that there will no change this time around, the market will be sensitive - to the downside - on any rhetoric in the statement which puts Dec in doubt. 

UK Retail Employment Plunges Most Since 2008 As Retail Sales Crash

“It’s clear retailers are beginning to really feel the pinch from higher inflation. While retail sales can be volatile from month to month, the steep drop in sales in October echoes other recent data pointing to a marked softening in consumer demand.”

Traders Paralyzed, Markets Flat Ahead Of Today's Main Event: The ECB's Taper Announcement

US equity futures and Asian shares are flat this morning with European shares treading water ahead of the ECB's policy meeting in which it’s expected to announce a tapering to its €60bn in monthly QE. On this busiest day of Q3 earnings season, companies set to report earnings include Alphabet, Microsoft, Amazon and Intel, while we also get data on jobless claims and wholesale inventories.

Bond Yields Break Out Around The World As Japan's Record Stock Rally Ends

S&P futures are fractionally in the red while traders await President Trump’s pick for Fed chair and more clues on the fate of tax reform; Asian stocks slide, European shares are little changed ahead of tomorrow's ECB tapering announcement as US 10Y yields finally break out of their multi-month range below 2.40%.

Global Markets Shaken By Sudden Equity Sell-Off: Hong Kong Crashes, VIX Surges

Global markets have been shaken by a sudden wave of overnight equity selling as worst case scenario for Spain finally materialized, while a slide in Apple stock has spiked the VIX, which coupled with a plunge in the Hang Seng and several other notable macro events may have finally woken up from their comatose state.

Ray Dalio Is Shorting The Entire EU

"Dalio doesn’t call the bluff of Italy, and this is not just like George Soros’ shorting the British pound in 1992, he’s calling out the entire EU and its financial system. He’s saying I don’t believe you can keep up the charade. He’s making a mockery of Mario Draghi’s 'whatever it takes'..."

Dow Futures Over 23,000: Dollar, Global Stocks Jump As China Congress Begins

World stocks stayed near peaks and currencies moved in tight ranges on Wednesday as China’s 19th Communist Party Congress opened while focus in Europe turned to speeches from top euro zone central bankers before next week’s key policy meeting, as well as Catalonia's ultimatum due on Thursday.

Carney Reveals Europe's Potential Achilles Heel in Brexit Talks

Calling into question the continuity of tens of thousands of derivative contracts, Carney stated that it was “pretty clear they will no longer be valid”, that this “could only be solved by both sides” and has been “underappreciated” by Europe.

Global Stocks Rise Oblivious Of Growing Geopol Risks; Oil, Commodities Jump On Kurdish Clashes

World stocks and commodities rose on Monday, boosted by upbeat Chinese data, while U.S. oil futures jumped to a near six-month high as escalating tensions between the Iraqi government and Kurdish forces threatened supply.  Global markets digested the large amount of weekend newsflow, and clearly liked what they saw as S&P futures were modestly in the green, as both European and Asian stocks are higher.