Morning Call: Italian assets rise on deficit concessions
Head of Editorial Content, Saxo Bank
Summary: Today's edition of the Saxo Morning Call features Saxo Bank Head of Forex Strategy John Hardy and fixed income specialist Althea Spinozzi discussing the rally in Italian assets in the wake of the government's move to reduce its deficit targets in 2020 and 2021.
Chart of the Week: Greece GDP per capita
One-time bond-market pariah, Greece has recently joined the list of countries that are getting paid to borrow money in debt markets. A sale of almost half a billion euros of 13-week bills drew a yield of minus 0.02%. Contrary to what have been said here and there, this surprising turnaround is not the signal that the Greek crisis is over.
Macro Monday Week 43: Does Brexit deal = Top of USD strength?
Week ahead is light on econ data, flash PMI theme... yet heavy on GeoPolitics. We continue to have a lack of cease fire between Turkey and Syria, we have Canadian General elections today where JT was lagging in the polls and of course the Brexit saga continues. Central banks wise, the ECB is likely dead in the water for a few meetings, decision out of Turkey and Russia could be more interesting.
FX Update: Weekend Brexit vote. USD turning lower?
Yesterday saw the greenback breaking lower with no distinct narrative driving the move and a key resistance level taken out in EURUSD. Elsewhere, a nail-biting gap for sterling traders at the weekend on uncertainty over whether the votes are there for Parliament to pass the deal in a Saturday session and vote in Parliament.
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