indeed. Likely heads back into the range trading regime... EURJPY back to where it was as well... no surprise given the turnaround in USTs and US equity mind.

Cross Market Analysis

oh and here is their debt chart from our euro corp debt desk... lololol This is a 5Y bond with a yield of 70%!!!! Price has fallen some 85% in the space of a few days.

Cross Market Analysis

yeh Banco Espirito Santo I'll attach a few charts. 3rd one is that off equity vs CDS spread. Huge sell-off has caused ripple effects across all European Bank shares... Credit agricole own around 15% of their shares so there is a bit of contagion etc ...

Cross Market Analysis

nah this has nothing to do with draghi at all. its all to do with BESPL and its knock on effects

Cross Market Analysis

just asked our tech desk to send me over a EURJPY chart for their trade. This is what I got... they say, needs to hold horizontal line on a daily basis - 137.65 or so. Ideally needs to retake 137.90/138 to confirm basing. (then hold till 138.50's+) ...

Cross Market Analysis

our desk puts the EURJPY stop at around 137.20... so giving it a bit of breathing room. momentum starting to slow to downside for sure.

Cross Market Analysis

precisely the case right now. both strongly correlated, and the USDJPY is being fully dictated by USTs

EUR/JPY

indeed, always a concern. but is it enough to crack this area on USDJPY, as said earlier, there are a helluva lot of bids (rumours of gov bids under 101 too...) Either way, markets starting to liven up a bit.

Cross Market Analysis

yeh I'm glad I didn't put any in my portfolio... stupid tech guys. I don't think this is the "break", but its certainly going to shake some of the weaker longs out.

Cross Market Analysis

Our desk looking to pick up some EURJPY here (137.82) Citing: Overdone downside in x-asset spectrum, US rates down to 2.5%, SPX/DJI weaker than maybe they should be. Mostly down to BES dragging down peripheral equity. Tech team see this area as ...

Cross Market Analysis

7 pips down =/= a victim.

NZD/USD

The only reason the NZD is above 0.8 is because of that earthquake in Christchurch. Short term it was bad because they cut rates (emergency)... Long term its super bullish, because reconstruction industry boomed and the economy got really strong. ...

NZD/USD

well it wasn't hard to read the title, was it? I personally disagree with him, but would rather play it in the rates markets. Pay US here seems like a free discount after that FOMC

EURUSD

Citi Strat Englander on FOMC

EURUSD

the range was 29 pips so if delta hedged, it might just have been profitable! (I didnt trade it cos I at home obviously!)

Cross Market Analysis

Odd reaction... US yields lows of the day dragging the USD down with it... Even though arguable hawkish FOMC. looking to faaaadddeee this.

Cross Market Analysis

if you are interested, there is a ~1% chance that in the next day the EURUSD is above 1.3720, its les than 0.5 for >1.374

EURUSD

ok thanks

Cross Market Analysis

our NZD trader at our spot desk decided to get short some NZD here (>0.88) He thinks that s/t positioning is stretched and market has lacked the follow through on a break above 88 However, warns it could get squeezy around the .8842 highs.. and if ...

NZD/USD

BofAML EMEA SALES' TOP TRADE IDEAS 1) FX: Buy 3mth GBP/$ 1.6700 vanilla put 2) Rates: Buy 2y1y BTPS vs. Germany 3) Credit: Cheap hedge for BESPL / peripheral "jump" risk in Europe 4) Equity: Buy NKY Sep14 / Dec14 16,000-17,000 call spread. 5) ...

Cross Market Analysis