ECB's QE to have massive impact in terms of increasing liquidity
Mar 09, 2015 07:05 am UTC| Commentary
The ECBs liquidity bazooka will push the surplus to more than 1trn by the end of the programme next year and cause a scarcity of high quality collateral in the repo market.The maturity of the two 3y LTROs at the end of...

Displacement impact of EGB QE likely be very large
Mar 09, 2015 07:03 am UTC| Commentary
The key takeaway for the EGB market is that c.45bn per month in EGB purchases for at least 19-months is a very large number for the EGB market and its investors to absorb. Therefore, the portfolio squeeze effect of the...
ECB targets purchase of €60bn per month in EGBs/SSA
Mar 09, 2015 06:59 am UTC| Commentary
ECB is targeting purchases of 60bn per month in EGBs/SSAs including the existing private sector purchase programmes (ABSPP, CBPP3).In order to be eligible for purchase, EGBs and SSAs are required to have 2-30y of residual...
Asian currencies fall vs USD without exception
Mar 09, 2015 06:54 am UTC| Commentary
Asian currencies fell versus USD almost without exception; only the Chinese yuans resilience was notable.The USD/CNY fixing was 6.1563, just 0.05% above Fridays level despite the steep rise in USD/majors since...
Mar 09, 2015 06:53 am UTC| Commentary
NZD consolidated over the Sydney morning, trading 0.7350 to 0.7373. It then fell 20 pips from 0.7348 as NZ PM Key said that the RBNZ is looking at new tools so it does not have to tighten policy and that there is no upward...
Mar 09, 2015 06:13 am UTC| Commentary
NZD/USD:The recent multi-week rally came to an abrupt end on Thursday last week, the near term outlook now negative.While NZ economic data remains strong, the US dollar has woken from its month-old slumber and resumed its...
Mar 09, 2015 06:08 am UTC| Commentary
The KRW has led the way (down) in Asian trading this morning, ahead of the BOK Thursday.ECB QE starts today and the Greek crisis is far from over with a Eur 350mln tranche of IMF debt due for repayment at the end of the...