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So far Michael Colman has created 122 blog entries.

ITC – Italian 3y and 7y BTP Auction Preview

USTs: At 13:00ET/18:00BST, the Treasury will auction $24bn re-opened 1.625% 8/15/2029s General Views: This week’s supply has been complicated by the looming US/China trade talks and the numerous headlines related to the negotiations. This backdrop may underpin demand for safe assets but makes set-up more difficult and may limit participation at the margin

By |2020-02-12T10:16:18+00:00February 12th, 2020|

ITC Sources: GPIF Buys USDJPY & Short-End USTs Over Y108, Sell Both at Y110

Japan’s Government Pension Investment Fund -- the world's largest pension fund -- buys the US dollar/ yen (buy US$/sell yen) and then use those proceeds to buys short-end US Treasuries on an unhedged basis, when the US$/yen is about Y108, and then when the US$/Yen moves up to Y110, it sells both, said observers citing an ongoing practice. That would lock in a 1.85% profit on the foreign exchange side, plus some residual P&L from the USTs movement.

By |2020-02-10T08:27:37+00:00February 6th, 2020|

ITC – BoE November Preview: With another Brexit Delay & a Dec 12th election, more wait and see

On Thursday at 12:00 GMT, BoE will issue Policy Decision Current Policy: Bank Rate: 0.75%; Asset Purchase Programme: £435bn; Corp Bond Purchases: up to £10bn In Brief: - Analysts expect no change in monetary policy including rates & QE - MPC likely to vote 9-0 for keeping all policy unchanged - Most analysts believe everyone on the MPC is firmly in ‘wait and see’ mode due to uncertainty created by the extension of the Brexit deadline and the upcoming Dec 12th general election.

By |2019-11-05T16:03:09+00:00November 5th, 2019|