Professional Documents
Culture Documents
Comentarios
Las actas del FOMC revelan discusiones sobre la finalización del alivio cuantitativo para la Agencia y los Títulos Hipotecarios, aunque los tipos deberían seguir
bajos. Algunos miembros temían una bajada “significativa” de la inflación (es decir, más inflación) y sigue habiendo una debilidad considerable en el mercado
laboral, lo que tendrá que mejorar antes de que los tipos puedan volver a subir. El mercado de futuros de intereses a corto plazo sigue indicando que la primera
oportunidad para que suba un tipo de interés será en marzo-mayo de 2010.
El Índice de Cambio en el Empleo de ADP indicó ayer que el mercado laboral se está deteriorando menos rápido que en julio, pero el Índice Semanal de Nuevos
Subsidios por Desempleo no apoya esta teoría.
Atención al ISM del sector No Manufacturero de hoy, ya que se sigue esperando que se publique por debajo de 50 (lo que supondría contracción). Unas cifras por
encima de 50 se traducirían en un repunte en la renta variable.
Publicaciones de ganancias
País Hora (GMT) Nombre GPA prevista GPA anterior Comentario
(G(GMT)(GMT)
Daily Trading Stance
2,5
120
100
1,5
1
80
0,5
60
-0,5 40
24-apr 24-jun 24-aug 24-okt 24-dec 24-feb 24-apr 24-jun 24-aug 04-09-2008 04-11-2008 04-01-2009 04-03-2009 04-05-2009 04-07-2009
#N / A Reques ting Data... Saxo CDS Index
USD breakeven 10 Year – an expression for measuring inflation Credit Default Swaps are expressions for the perceived
expectations. default risk in a company. Now at 55.
AAA and BAA Corporate Bonds vs. 30yr US Treasuries
EURUSD Opt. Vol.
35 7
6
30
5
25
4
20
3
15
2
10
1
5
0
jan-08 apr-08 jul-08 okt-08 jan-09 apr-09 jul-09
0
aug-07 okt-07 dec-07 feb-08 apr-08 jun-08 aug-08 okt-08 dec-08 feb-09 apr-09 jun-09 aug-09
EUR-USD OPT VOL 1W EUR-USD OPT VOL 1M EUR-USD OPT VOL 1Y
Moody BAA - US Generic Govt 30 Year Yield Moody AAA - US Generic Govt 30 Year Yield
Volatility at different time horizons. Too low, now? Spreads are easing, but still showing tight corporate debt
markets.
10 50
8 40
6 30
20
4
10
2
0
0
feb-09 mar-09 apr-09 maj-09 jun-09 jul-09 aug-09
nov-08 dec-08 jan-09 feb-09 mar-09 apr-09 maj-09 jun-09 jul-09 aug-09
CBOE SPX VOLATILITY IN DX
1
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