Recap 2-14-13

Commentary:

None

Notable:

  • US Initial Jobless Claims declined to 341k last week vs 360k exp and 366k prev
  • ECB’s Constancio said that negative rates were technically possible.
  • BoJ did not change policy, as expected
  • There were reports that Abe may pick the next BoJ governor as early as this week, with the two front runners the ex BoJ deputy governors Muto and Iwata. Both think USDJPY is close to equilibrium. Iwata reportedly said last night that 90-100 on USDJPY is a return to equilibrium.
  • EU 4Q GDP dropeed -0.6% QoQ in 4Q vs -0.4% exp
  • CME will introduce purple midcurve options on 3/11
  • US Airways and AMR are combining in a well telegraphed deal. They will become the world’s largest carrier.

Upcoming Data:

  • Fri: G20, US Existing Home Sales
  • Mon: US Holiday, RBA,
  • Tue: German Zew, NAHB Survey,
  • Wed: BoE Minutes, UK Jobless Claims, US Housing Starts
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