ITC CB Speakers (wc 2nd Feb)
Transcription
ITC CB Speakers (wc 2nd Feb)
Central Bank Speakers BoE, ECB & Fed Speakers Cheat Sheet ECB/FOMC /BoE Voter Bias 31/01 - 10:10 ECB's Constancio at The Marshall Society of Economics, Cambridge -- Leaning Dove 02/02 - 09:05 ECB's Coeure at the National Bank of Hungary Conference -- Leaning Dove 02/02 - 09:35 ECB's Nowotny at the National Bank of Hungary Conference -- Leaning Hawk 22nd January - Would have waited before launching QE; we have more or less shot our last wad; size of program means it has advantages but sees not insignificant risks; risk sharing issue resolved well 02/02 - 10:30 ECB's Coeure at the National Bank of Hungary Conference -- Leaning Dove 29th January - QE will only end once we have a strong sense inflation is converging towards 2%; QE impact will not be as strong without reforms; Greece must abide by rules of the game; ECB style QE will be different to the US Fed’s 02/02 - 11:00 ECB's Costa at the National Bank of Hungary Conference -- Dove 02/02 - 11:30 ECB's Jazbec at the National Bank of Hungary Conference -- -- 29th January - Too early to say when ECB can buy Greek bonds; too early to talk about Greece leaving the Euro -- Leaning Hawk 11th December - ECB will assess early next year how monetary stimulus has worked; GC committed to new measures if req Non Voter Leaning Hawk 16th January - Reiterated Fed should hike end of Q1 this year; Low inflation is possible explanation for keeping policy accommodative Non Voter Dove 8th January - Hiking this yr would damage the inflation recovery; L-T unemp may be below 5%; before hiking want to see core inflation much closer to 2% & mkt based inflation expectations rising; oil price weakness basically a good thing form econ; surprised by scale of fall in bond yields Monday Saturday Date Time (GMT) 02/02 - 12:30 Wednesday Tuesday 03/02 - 15:00 Speaker and Event ECB's Liikanen at the National Bank of Hungary Conference Fed's Bullard discusses Economics in Newark, Deleware Recent Comments 20th December - Does not rule out QE but ECB is not obsessed with buying govt bonds; expects neg CPI soon due to weak oil price which raises high risk of deflation; if neg CPI is only temporary, would be no risk of deflation 29th January - QE will only end once we have a strong sense inflation is converging towards 2%; QE impact will not be as strong without reforms; Greece must abide by rules of the game; ECB style QE will be different to the US Fed’s 6th October - Portugal needs investor confidence for refinancing 03/02 - 16:45 Fed's Kocherlakota Speaks on Economy in St. Pauls, Minnesota 04/02 - 15:00 Fed's Powell on Economic Growth and Regulatory Paperwork Reduction, Dallas Voter Leaning Hawk 14th November - Fed takes global economic and financial interconnections into account when discussing monetary policy; Sees notable increase in international syndicated loans 04/02 - 17:45 Fed's Mester speaks to Ohio Bankers League in Columbus Voter Leaning Hawk 2nd January - Fed should hike rates before inflation hits 2%; Does not see financial bubbles at this time (Any key unscheduled remarks will be updated accordingly) InTouch Capital Markets provides institutional level market information and training services for the fixed income, rates markets & FX London: +44 (0)20 8879 1234 l New York: +1 212 878 6685 - www.itcmarkets.com This document and materials within are for informational purposes only. Its purpose is not to solicit, offer or facilitate a decision to buy or sell any financial instrument. In Touch Capital Markets Ltd does not warrant the accuracy or completeness of this information. No liability is accepted by it or the sender for any error or omission, nor for any loss of business, profits or any indirect, direct or incidental damages arising from the use of this information. Central Bank Speakers BoE, ECB & Fed Speakers Cheat Sheet cont. Friday Thursday Date Time (GMT) Speaker and Event ECB/FOMC /BoE Voter Bias Recent Comments Non Voter Dove 7th January - Precise timing of liftoff not important to the overall econ; should not hike this yr; fairly surprising how low long-term yields are given Fed tgts 2% inflation; Future tightening may not be as smooth as previous cycle; Low inflation allows for gradual rate hikes 05/02 - 10:00 Fed's Rosengren addresses Conference on Sovereign Risk 05/02 - 11:30 ECB's Praet speaks in Frankfurt -- Middle 05/02 - 13:30 ECB Knot in Dutch Parliament on QE -- Hawk 06/02 - 17:45 Fed's Lockhart Speaks on U.S. Economy in Naples, Florida Voter Leaning Dove 5th January - ECB will use further unconventional measures if needed; Govt bond purchases would have to consider EU treaty; sees risk of –ve CPI in coming months 23rd January - I’m against QE; not sure its necessary or effective; QE will lead to rising asset px & lower FX rate; ECB toolbox more or less empty now 12th January - If data is mixed prefers later hike date; Sees US GDP around 3% in 2015; Rate rise will be late in cycle based on history; Low bond rates reflective of global flight-to-safety and US attractiveness; Progress over n/ 6 months important to Fed analysis; Wages a swing factor going forward (Any key unscheduled remarks will be updated accordingly) InTouch Capital Markets provides institutional level market information and training services for the fixed income, rates markets & FX London: +44 (0)20 8879 1234 l New York: +1 212 878 6685 - www.itcmarkets.com This document and materials within are for informational purposes only. Its purpose is not to solicit, offer or facilitate a decision to buy or sell any financial instrument. In Touch Capital Markets Ltd does not warrant the accuracy or completeness of this information. No liability is accepted by it or the sender for any error or omission, nor for any loss of business, profits or any indirect, direct or incidental damages arising from the use of this information.