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JP Morgan: We remain skeptical of a sustained selloff at the long end of the yield curve

The selloff in global bond markets over the past two weeks has investors wondering whether we have reached an inflection point in the extended period of ultra-low interest rates. 1,093 more words

Institutional Reports

USD price action: A deja vu - Goldman Sachs

The dovish FOMC surprise this March is casting a shadow over the Dollar, similar to a year ago. The last time the FOMC damaged conviction, when a “hawkish” dot plot in March 2014 was followed by “dovish” minutes in April. 179 more words

Foreign Exchange

Credit Agricole: Large levered shorts in 10-year and ultra bonds treasury futures

Credit Agricole’s David Keeble said recent CFTC data suggested that there are large levered shorts in 10-year and ultra bonds treasury futures. “We get the impression that most recent price action has been futures-led, because we can see that on the cash curve that most cheapest to deliver securities are at recent extremes of valuations (mostly cheap) to their less liquid peers,” he said. 75 more words

Institutional Reports

BIS quarterly review, june 2013: A template for recapitalising too-big-to-fail banks

From: Bank for International Settlements (BIS)

A proposed creditor-funded recapitalisation mechanism for too-big-to-fail banks that reach the point of failure ensures that shareholders and uninsured private sector creditors of such banks, rather than taxpayers, bear the cost of resolution. 116 more words