Market Briefs • US GDP comes in weak, EZ ministers talk of continued accommodation for the future. Markets react favorably to continued liquidity buying equities and bonds • ECB’s Noyer Accommodative monetary policy stance to remain as long as necessary, EZ export growth to benefit from recovery in global demand • ECB’s Mersch No exit from accommodative policy in near future • Fed’s Lacker US economy could be in for a couple of more years of sluggish growth • Reuters Poll ECB to leave refinancing/depo rates on hold to at least 2014 • Fed’s Kocherlakota some of the recent change in LT bond yields outsized, should defend 2% inflation target from above & below • US 5yr auction direct bidders at 3.56% lowest since Nov 2009, indirect bidders at 52.99% largest since Nov 2009 • US 30yr mortgage rate 4.46%, 4.17% prev • US GDP Final Q1, +1.8%, f/c +2.4%, +2.4% prev • US GDP Final deflator, +1.3%, f/c +1.1%, +1.2% prev • US GDP Final Sales, +1.2%, f/c +1.8%, +1.8% prev • US GDP Cons spending +2.6%, +3.4% prev • US Corp profits Rev, -1.1%, f/c -1.7%, -1.9%-prev • BOC’s Lane Canada financial system robust, household imbalances remain biggest risk (DJ)
Posted on: Wed, 26 Jun 2013 23:23:30 +0000
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