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Dentalfloss · Dec 17, 2018

FTSE

Dentalfloss · Dec 17, 2018

Cable

Dentalfloss · Dec 17, 2018

testing support

Dentalfloss · Dec 17, 2018

Good Morning: The Long & the Short of it and The Bigger Picture - 17 December 2018 - ADM ISI

Ostwald, Marc
08:14 (6 minutes ago)

to Marc

- Quiet start to the week in statistical terms; soft Singapore Exports to
digest ahead of US NY Fed Manufacturing and NAHB Housing Market Index,
plenty of ECB speakers, and BIS quarterly review to absorb, amid Fed
vigil

- US NY Fed/NAHB: NY Fed seen lower but solid, NAHB expected to hold
after steep fall in December

- Week Ahead: Fed meeting THE main event, Powell & Co facing numerous
presentational challenges, potential traps; dot plot in focus

- Charts: array of credit market charts

..........................................................................

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** EVENTS PREVIEW **
********************

A very modest run of data awaits, as markets begin their Fed vigil, with Singapore Exports to digest ahead of the US NY Fed Maufacturing and NAHB Housing Market Indices, with a goodly volume of ECB speakers providing the accompaniment in event terms, while rate decisions in Hungary and Morocco are not expected to deliver any policy changes. As mentioned below in the Fed preview, the pressure on all areas of the credit markets from IG through High yield to leveraged loans, with no USD HY bond primary issuance this month for the first time since the GFC - various charts attached for perusal. The latest BIS quarterly review was also published yesterday and is as ever a treasure trove of information - https://www.bis.org/publ/qtrpdf/r_qt1812.htm
- and has an interesting review of the antecedents of the Global Financial Crises, which they suggest was far more a case of an European "banking glut", rather than Asian "savings glut" - https://www.bis.org/publ/qtrpdf/r_qt1812f.htm .