BOE

Quiet Start To Quad Witching: Stocks Rebound Around The Globe, BOJ Hits Yen

Today is quad-witching opex Friday, and according to JPM, some $1.3 trillion in S&P future will expire. Traditionally quad days are associated with a rise in volatility and a surge in volumes although in light of recent vol trends and overnight markets, today may be the most boring quad-witching in recent history: global stocks have again rebounded from yesterday's tech-driven losses as European shares rose 0.6%, wiping out the week's losses.

Pound Spikes As BOE "Hawkish" Vote Surprises Traders

The pound sharply reversed overnight losses rising as much as 0.3% to 1.2794 after the BOE announced it kept rates at 0.25%,however the hawkish surprise was the 5-3 vote which was far closer than expected, as two more MPC members , Saunders and McCafferty joined Forbes in calling for a rate hike on the back of rising inflation concerns. 

Global Markets Rebound As Tech Rout Ends; Sterling Rises

As the Fed begins its two-day meeting, global stocks have recovered their footing and European shares rise, led by a bounce in tech stocks as last Friday's global selloff that started in the sector shows signs of abating. Asian stocks and U.S. futures gain as investors turn their attention to today's Jeff Sessions testimony as well as tomorrow's barrage of macro data including Yellen, CPI and retail sales.

Key Events In The Coming Busy Week: Fed, BOJ, BOE, SNB, US Inflation And Retail Sales

After a tumultous week in the world of politics, with non-stop Trump drama in the US, and votes in the UK, France and Italy, this is shaping up as another busy week ahead with multiple CB meetings, a full data calendar and even another important Eurogroup meeting for Greece. Wednesday's FOMC will be the main event, with the Fed expected to hike 25bp, while the BOJ, BOE and SNB all remain on hold.

"Tech Wreck" Goes Global Dragging Worldwide Markets Lower; Cable, USDJPY Slide

Following Friday's "tech wreck" European equity markets have opened lower, with the Stoxx 600 sliding back under the 50DMA for the first time since December, mirroring Asian markets as Friday’s "FAAMG" volatility in U.S. markets spreads globally. European banks lag as the Spanish regulator stepped in to prevent another bank collapse, this time of LiberBank which we profiled yesterday, by banning short-selling in the regional commercial bank to mitigate Popular-related contagion.

FX Week Ahead Preview: Focus Returns To The US Economy As Politics Run Riot Once Again

FX Week Ahead: Focus returns to the US economy as politics have run riot once again. Theresa May clearly made a big mistake in calling the snap election, and the Pound has suffered accordingly. It is a key week for central banks next week, headlined by the FOMC meeting on Wednesday, which is widely expected to result in a 25bp rate hike as the Fed maintain course for ‘normalisation’. 

The U.K. Election: An Outsider Looking In

"Intuition suggests Saturday night’s horrific terrorist attacks on London Bridge would have solidified Conservative’s lead. But the polls counter-intuitively indicate a move in the opposite direction... It’s notable that May’s lead did not initially narrow based solely on events that were out of her control, as in three terrorist attacks in three months. Rather, it was her vow to make pensioners’ benefits progressive..."

FX Week Ahead: Highlights Include FOMC, BOC And OPEC

Politics dominate yet again, as focus on Comey testimony set to determine Trump and USD fate.  Fed minutes and OPEC meeting on the same day with the BoC thrown in!  EUR on the front foot and leading the pack as growth and inflation stats heighten tapering expectations, greenback flagging.

Markets All Too Quiet Ahead Of Inflation, Retail Sales Data

Asian stocks and S&P futures are both feeling the weather this morning, while European stocks are little changed as traders have decided to hold back until today's key US CPI and retail sales data is released in under two hours.