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  • Editor’s Picks / 2 hours ago

    Japan's 10-year government bond yield hits zero for first time

    Yields on Japan's benchmark 10-year government bond hit zero for the first time, as investors clamour for safe-haven assets in the wake of a global market rout. Leslie Shaffer writes the yield on the 10-year bond recovered to 0.007% after touching zero on Tuesday. The fall came on the heels of a global stock market selloff overnight that likely spurred safe haven flows back into Japan. It also follows the Bank of Japan's move to a negative interest rate policy, which makes the return on Japanese bonds, even at a zero yield, as well as the possibility of further price rises more attractive.
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  • Article / 3 hours ago

    Morning Report APAC: Financials lead European markets lower

    APAC Sales Trading Desk / Saxo Capital Markets
    Morning Report APAC: Financials lead European markets lower
    European stocks fell overnight led by financials. The fall led to a rally in safe haven “risk-off” currencies. USDJPY dropped 1.3% and touched a low of 115.18. Volatility is starting to increase significantly and the market is realising that the QEs and different monetary policies from the central banks have less and less effect.
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  • Squawk / Yesterday at 21:13 GMT
    Managing Director / Technical Research Limited
    New Zealand
    The US stock market recovered almost half of its earlier losses by the close today, leaving the S&P 500 index still clinging to key support levels (see chart below). Meanwhile in the credit markets the US yield curve is now flatter than anytime since the GFC and two year German bunds have hit –0.52%. The odds of a rate hike by the Fed in March are virtually zero compare with 50/50 in Jan as shown in chart below from Bloomberg.

    As Bob Dylan sang “Something is happening here but you don’t know what it is; do you, Mr Jones ?”
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    Patto Patto
    You're based in New Zealand aren't you Max? That must be quite convenient as Wall Street closes 10 am your time so you've been at your desk...
    Max McKegg Max McKegg
    Yes that's right. Perfect time zone for assessment of US price action as well as for Analysis and Forecasts ready for the start of Asian and European...
  • Squawk / Yesterday at 19:35 GMT
    We got a more then 4 % sell-off on the OMXS30.I today. Gann cycles points to a possible low on February 11, which so happens to be the same day as the Riksbank is communicating their most recent is already and sure is going to be an interesting week...if this week fail to produce a substantial low mid-March is the next opportunity. In any case the cycles told us that the most recent low accounted for an incomplete cycle which now is confirmed with a lower close today. From a price perspective it appears the low set back in October last year is in for a test...
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  • Saxo TV / Yesterday at 16:17 GMT

    ECU Group: Why we shouldn't fear 'Brexit'

    Owen Thomas
    If the UK voted to leave the European Union there'd be a knee-jerk reaction on the markets but it would be neither a disaster for the UK nor for Europe; that's according to the ECU Group's Chief Investment Officer, Michael Petley.
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