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4 Jul 2013
Flash: Calm ahead of payrolls – Societe Generale
FXstreet.com (London) - Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that overnight, Shibor rates in China continued to normalise, which helped higher-beta currencies rally in Asia.
He adds that Portuguese political leaders are planning to hold talks to please the country’s political crisis, and even if they can’t calm nerves completely, 10yr yields have already dropped back 30bp from last night’s close. He writes, “It seems a little unfair to talk about quiet markets while turmoil returns to Egypt, but unless oil prices spike a lot higher, market effects are likely to be limited.”
He adds that Portuguese political leaders are planning to hold talks to please the country’s political crisis, and even if they can’t calm nerves completely, 10yr yields have already dropped back 30bp from last night’s close. He writes, “It seems a little unfair to talk about quiet markets while turmoil returns to Egypt, but unless oil prices spike a lot higher, market effects are likely to be limited.”