Bid to cover at 2.46 (was 2.54 at the last auction). The US treasury sold $28B of 7 -year notes at 2.056% with 73.19% allotted at the high. The Bid to cover came in at 2.46x That is down from the 2.54x at the last auction.
Energy inventories and production from the Department of Energy – Prior was -2451K – Gasoline -894K vs 0K exp – Distillates -223K vs +934K exp – Cushing -297K vs -600K exp
German finance minister Schaeuble out with some comments on budget 28 June – plan pushes debt below 60% of GDP by 2020 – have scope for balanced budgets within the next 4 years EURUSD rallying again to 1.1373 as are EUR pairs generally with EURGBP now 0.8868 after holding the 0.8850 area as per my . EURJPY […]
Italy June CPI report now out 28 June – 1.4% prev – mm -0.1% as exp vs -0.2% prev – HICP mm -0.2% vs 0.0% exp vs -0.1% prev – yy 1.2% vs 1.4% exp vs 1.6% prev Softer data supporting current reality check for the euro that sees EURGBP down to test 0.8850 support/demand, […]
Latest German election poll results from Forsa now published 28 June – CDU/CSU 40% – SPD 23% – Greens 9% – FDP 7% – Linke 9% – AdD 7% – Others 5% 40% is best showing since Sept 2015.
John Edwards is ex of the Reserve Bank of Australia. There is a piece from him doing the rounds today on his view on RBA rate hikes He says: The article was out a couple of days ago, but if you’d like to check it out:
The Financial Times on a forecast by the National Academy of Economic Strategy at the Chinese Academy of Social Sciences – Preliminary Q2 GDP forecast of 6.8% y/y Full article is here, may be gated:
The private survey comes out ahead of official data due tomorrow morning in the US Analysts surveyed by Reuters had estimated crude stocks fell 2.6 million barrels in the week just passed, but this report is showing a build
Results of the 5-year auction – Prior was 1.831% – Bid-to-cover at 3.11 vs 3.42 prior (lowest since Feb)
Reuters, citing senior administration sources – Trump increasingly frustrated with China over North Korea and trade – Trump considering tougher stance with China, thinking about steel tariffs Trump was self-impressed with his ‘great chemistry’ with Xi and his ploy to drop bombs on Syria at his meeting but Xi doesn’t care. China’s going to do […]