Bonds and Equities -
Bunds post a small opening bounce from yesterday's o/s move and hold aroundd those levels (future +10-15 ticks or so). Gilt future similar - bit of support from the downside surprise in UK Q4 GDP at 0.5% from 0.7%q/q in Q3 (mkt 0.6%), with GB10s -2 to -2.5bp vs around -1bp for bunds.
Greece hots up, with sharper risk-off moves for local assets as the potential intractability of the political situation sinks in. Bank stocks hit new lows and 3s up almost 2pp right back up to around 13 3/4 %.
That does help to inject a touch more of a corrective lean for periphery after yesterday's more blasé mood. Club Med 10s around +5 to +6bp.
Asia FX and News -
Eurogroup Dijsselbloem: Ready to work with new Greek govt. Syriza has ambition of Greece saying in Eurozone.
Japan Govt Adviser Itoh says JPY is very low. Think JPY will eventually rise to normal level ~ BBG
Econ Amari: this year crucial period for Abenomics goal.
NZ PM John Key says interest rates look set to stay low for longer. Concerned about Auckland house price inflation.
FT: Shanghai has ditched its official growth target for 2015, first major city in China to abandon such m etrics.
Read more Click here / www.trade4x.net
Bunds post a small opening bounce from yesterday's o/s move and hold aroundd those levels (future +10-15 ticks or so). Gilt future similar - bit of support from the downside surprise in UK Q4 GDP at 0.5% from 0.7%q/q in Q3 (mkt 0.6%), with GB10s -2 to -2.5bp vs around -1bp for bunds.
Greece hots up, with sharper risk-off moves for local assets as the potential intractability of the political situation sinks in. Bank stocks hit new lows and 3s up almost 2pp right back up to around 13 3/4 %.
That does help to inject a touch more of a corrective lean for periphery after yesterday's more blasé mood. Club Med 10s around +5 to +6bp.
Asia FX and News -
Eurogroup Dijsselbloem: Ready to work with new Greek govt. Syriza has ambition of Greece saying in Eurozone.
Japan Govt Adviser Itoh says JPY is very low. Think JPY will eventually rise to normal level ~ BBG
Econ Amari: this year crucial period for Abenomics goal.
NZ PM John Key says interest rates look set to stay low for longer. Concerned about Auckland house price inflation.
FT: Shanghai has ditched its official growth target for 2015, first major city in China to abandon such m etrics.
Read more Click here / www.trade4x.net
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