Document 6597140

FX
FX Rates (Mid)
USD
USD
-
EUR
1.244
JPY
115.75
GBP
1.577
CHF
0.966
AUD
0.870
INR
61.54
TRY
2.254
ZAR
11.21
BRL
2.568
QIBOR RATES
Duration
QIBOR
Duration
Overnight
0.80
3 Months
1 Week
0.85
6 Months
1 Month
0.90
9 Months
2 Months
0.99
1 Year
US RATES
US Rates
Treasuries
Libor
3M
0.01
0.23
6M
0.06
0.33
5Y
1.65
-
10Y
2.37
-
GLOBAL MARKETS
Indices
Index Level
GCC
QE Index
13724
Saudi Arabia (TASI)
9766
UAE (ADX)
4939
UAE (DFM)
4578
Kuwait (KSE)
7202
Oman (MSM)
6955
Bahrain (BAX)
1438
GLOBAL
Dow Jones
17612
S&P 500
2038
Nasdaq
4675
FTSE
6611
Euro Stoxx 50
3047
Nikkei
17345
Hang Seng
23929
Nifty India
8365
Borsa Istanbul
80395
COMMODITIES
Crude Oil
77.09
Natural Gas
4.14
Gold
US ECONOMIC DATA
Time
Event
Initial Jobless
16:30
Claims
16:30
Continuing Claims
1165
Period
Survey
Nov-08
Nov-01
280K
2346K
TOP NEWS
 China’s leaders have discussed lowering the 2015 economic growth target and see the
3.64
need for the goal to be below this year’s level of about 7.5 percent, said a person with
knowledge of the talks. The central leading group for financial and economic affairs
4.531
discussed targets including 7 percent, 7.3 percent, and below 7.5 percent, said the
0.031
person, who asked not to be named because the discussions are private. The figure
5.742
hasn’t been finalized, the person said. The State Council Information Office didn’t
3.768
immediately respond to faxed questions seeking comment.
3.167  Brent crude extended losses from a four-year low, trading near $80 a barrel amid signs
0.059
that OPEC remains unwilling to reduce output to ease concern of a global supply glut.
West Texas Intermediate was steady in New York. Oil has collapsed into a bear market as
1.615
leading OPEC members resisted calls to cut production and instead reduced export
0.325
prices to the U.S., where output has climbed to the highest level in more than three
1.423
decades. Venezuela, Libya and Ecuador have asked for action to prevent crude from
falling further. The group is scheduled to meet Nov. 27 in Vienna.
QIBOR
 The gap between U.S. three-and 30- year yields approached the narrowest level since
1.06
2009, reflecting demand for longer debt before a bond sale today. The Treasury
1.24
Department is scheduled to sell $16 billion of 30-year securities, which have rallied this
1.35
year as inflation holds in check even as the economy expands. The securities have
returned 21 percent in 2014, according to Bank of America Merrill Lynch indexes. Three1.45
year notes are little changed.
Swaps  The International Monetary Fund on Wednesday warned of downside risks to its growth
projections for the euro zone, and urged the European Central Bank to act if prices in the
currency bloc continue to drift lower. The IMF's warning echoes an increasing fear
among global policymakers that Europe is not on track to spur economic growth,
1.80
something that should be a key topic for discussion when leaders of the Group of 20
2.50
economies meet in Australia later this week.
 Asian stocks fell for the first time in five days after the Standard & Poor’s 500 Index
1 Day
retreated from a record and the yen gained against the dollar. “People are looking for
%
the next story, whether it’s M&A activity or some good economic numbers,” Tony
Farnham, Sydney- based strategist at Paterson Securities Ltd. “Investors are looking for a
-0.23%
bit more clarity on how Europe is going to go about its version of quantitative easing.
-0.02%
Valuations, particularly in the U.S., are looking a little bit pricey.”
-0.10%  Emirates NBD (ENBD), rated Baa1/A+ by Moody's and Fitch, yesterday priced $1bn in a
5-year bond to yield 3.258%. The bond was offered at a price of 99.963 cents on a dollar
-0.21%
and carries a coupon of 3.25%. The bond matures on 19 November 2019.
0.32%
FX COMMENTARY
0.51%
The Dollar took time out from its rally against the Yen and Euro as traders awaited Chinese
0.53%
and U.S. data for fresh catalysts, while the Australian Dollar slid after a central bank official
said an intervention on the currency has not been ruled out. The British Pound languished at
-0.02% 14-month lows versus its U.S. peer after dovish messages from the Bank of England. The
-0.07% Dollar was little changed at 115.56 Yen after its advance to a seven-year peak of 116.11 was
0.31% checked the previous day. The Yen stabilised somewhat after Japan's top government
-0.25% spokesman Yoshihide Suga cooled speculation that Prime Minister Shinzo Abe will hold a snap
election in December. The election talk had raised hopes that Abe will use a victory to
-1.85%
implement a second round of reflationary policies and possibly delay a planned sales tax hike,
0.86% sending Tokyo's Nikkei share average to seven-year highs and weighing on the Yen in turn.
-0.04% Chinese retail sales and industrial output figures will be released at 0530 GMT. The
-0.22% Australian Dollar, sensitive to the economic fortunes of China, was down 0.3 percent at
2.54% $0.8695 after Reserve Bank of Australia Assistant Governor Christopher Kent said an
intervention on the currency has not been ruled out. The Aussie has fallen 2.5 percent
against the Dollar so far this year but the RBA had repeatedly said the currency was
-0.12%
overvalued. Other economic indicators that could influence currency markets include U.S
-1.00%
jobless claims later in the session and U.S. retail sales data on Friday. The numbers may
0.17% reinforce the brightening U.S. economic prospects vis a vis Europe and Japan, a key factor
that has helped the Dollar charge higher against the Euro and Yen. Reflecting an improving
Prior
economy, the Federal Reserve ended its money-printing programme last month, while the
Bank of Japan boosted its stimulus measures to re-energise a fragile recovery. The European
278K
2348K Central Bank is also under pressure to ease more and support a sluggish Euro Zone economy.
The Euro was flat at $1.2442, confined to a narrow range and managing to stay clear of a twoyear low of $1.2358 hit last week. Sterling was stuck near a 14-month low of $1.5760 after
shedding nearly 0.9 percent overnight after dovish comments from the Bank of England.
Governor Mark Carney said it was appropriate that markets expected somewhat easier
monetary conditions
QAR
Thursday, November 13, 2014
REGIONAL STOCK MARKETS % CHG
Yesterday
Year to Date
1.00
EGYPT
DUBAI
0.50
DOHA
ABU DHABI
-
BAHRAIN
SAUDI
(0.50)
LEBANON
(1.00)
JORDAN
MUSCAT
(1.50)
KUWAIT
(10.00)
(2.00)
-
10.00
20.00
30.00
40.00
QSOV. USD YIELD CURVE
Spread to Bench
6.0
Today
01/01/2014
5.0
Yield %
50
3.0
-
2.0
(50)
1.0
Spread bps
100
4.0
(100)
0.0
-1.0
150
QATAR 4
01/20/15
QATAR 3
1/8
01/20/17
QATAR QATAR 6.55 QATAR 5
2.099
04/09/19
1/4
01/18/18
01/20/20
Sukuk
QATDIA 5
07/21/20
QATAR 4
1/2
01/20/22
QATAR
3.241
01/18/23
Sukuk
QATAR 9 QATAR 6.4 QATAR 5
3/4
01/20/40
3/4
06/15/30
01/20/42
(150)
CHART OF THE DAY
Britain has created as many jobs over the past four years as the euro region has lost, underlining the widening economic gulf with the country’s
biggest trading partner. The CHART OF THE DAY shows working-age employment in the U.K. rose by 1.4 million to 29.4 million in the second
quarter compared with the same period in 2010, based on data from the European Union statistics agency, Eurostat. In the 18 nations that share
the euro, it dropped by 1.4 million to 138.7 million. The specter of stagnation in the euro area prompted Bank of England Governor Mark Carney to
lower U.K. growth and inflation forecasts yesterday. With a general election in six months, Prime Minister David Cameron is also using the
divergence to highlight the performance of the British economy and explain to voters why he is struggling to cut immigration from the EU.
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Thursday, November 13, 2014