Bank for International Settlements out with a few comments 6 March
- politics reasserting itself over economics
- investors have started to discriminate more across asset classes, regions and sectors
- central bank decisions played less of a role in driving valuations in last quarter
Well let's see if they're still saying that after this month's FOMC meeting.
- USD funding for banks outside of US rose to a new high of $9trln* in Sept 2016,driven by increase in offshore depos
- concerns about emerging markets generally receded in Q1, outlook for some remains uncertain
Concerns receding ? Or a case of attention being turned elsewhere?
Meanwhile we're seeing a bit of USD demand ( on top of that $9trln*!) with USDJPY up to 113.85, EURUSD down to 1.0585, GBPUSD 1.2263. USDCHF 1.0100 but running into a few offers.
Supply here on USDJPY with larger at 114.00 where option expiries cast a shadow.
