Forum Replies Created
-
AuthorPosts
-
To give some perspective to the importance of who heads the SNB following Jordan who was a strong advocate of currency management, in 2022 the SNB sold foreign currencies worth 22.3 bio CHF. In 2023 under Jordan’s strong CHF policy they sold 132.9 bio chf of foreign currencies (buying CHF). Any step back from the strong CHF policy should have a super size impact….
SNB HIGHLY unlikely to move on rates tomorrow. Meeting speculation centers around whether a successor to Jordan will be named tomorrow. Which is also probably unlikely but fwiw thats the talk…
With BoJ making a move on rates I think it gave the market less concern over intervention, so Amman’s assessment earlier may be spot on as he usually is. I am just not touching longs in UsdJpy because anything overly aggressive to the upside could put the “I” word back in play. I’m in crosses only pre-Fed.
10-yr 4.287
FOMC and jerome’s yak
–
Unlikely that we will see anything different than 5.5% and anything different than 75bps from their famous dot plot.the FOMC-ers will goad jerome to whine about some stickiness in inflation and potential for a bit of a rise BUT – on the other hand – offset that with optimism about lower growth and ouch ouch out shed a tear lower jobs.
Are players positioned for a hawkish jerome ? There-in lies the bet, especially if jerome comes out and be perceived by players even minutely leaning towards easing, even if just not yet.
Lets see IF I can make some moolah off a communication breakdown (cue Led Zeppelin)
-
AuthorPosts
© 2024 Global View