By
ITC Markets -
Tue 18 Sep 2012 01:41:36 CT
Related Keywords:
Interest Rates
Eq futs inds: Estox 2581, Dax 7397; Estox cash equiv -0.1%
Overnight News:
-WSJ: Merkel reiterates support for ECB bond buys; bank regulator must be in place before ESM direct bank recaps
-ECB's Coene: Easing options include rate cut, neg depo rate & LTROs; outright QE unlikely; on ECB Greek bond haircuts, Draghi clear that OMT seniority rules will not apply to SMP holdings but "the past is still an open question"
-ECB's Nowotny: don't expect Slovenia to need a bailout; Ambitious for ECB to oversee banks by mid-2013
-French FinMin: v firm on cutting deficit; not a solution for Greece to exit euro; Greece cannot stay in Euro at any price; Could have common EZ bonds in the future
-Greek Fin Ministry: More progress made on finalizing Troika cutbacks; to hold talks daily
-Greek Poll (Skai / Kathimerini): just 20% agree with current terms of Greek deal; 67% still view euro positively
-Source: Spain to release final bank audit results on Sep 28th; weakest banks to get funding by year end
-Source: Ireland would prefer to use bonds rather than ESM to refinance Anglo Irish; considering a 40y issue
-Moody's: European corporate high-yield issuance could reach historical high in 2012
-Moody's: expects continued performance divergence between southern (periphery) EZ & northern EZ in 2012 &'13
-RBA Sep Minutes: have scope to ease if needed; notes sharp fall in some commodity prices; domestic econ still growing at trend, AUD somewhat overvalued but not substantially
-RBA's Debelle: no sign of credit supply being constrained
-Australia: ANZ expect more easing; expect cuts in Oct & Nov (vs one cut in November prior)
-Australia: cuts 2012/13 minerals-energy export expected revenues to A$190B
-WSJ: Japan-China $345B trade at risk amid islands argument & Chinese anti-Japan riots
-PBoC: injects CNY 75B via reverse repos
-Oil saw rapid $3.50 selloff; mkt talk of a fat finger in WTI crude & possible SPR release
-White House: All options remain on the table on SPR but no announcements to make; CME: Not aware of any technical issues
-Equities: Apple hits record high (above $700) in after mkt trading on iPhone 5 sales
View All Market Commentary
*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.