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Last month, I made the argument that the Japanese yen was set for further downside relative to the greenback. My reason for making this argument was that the Bank of Japan may be forced to lower rates further in the future – as inflation struggles to hit the bank’s 2 percent ...
The dollar extended the down move that began at the start of the month last week. It fell against nearly all the currencies in the world but the yen and Turkish lira. However, the near-term decline may be exhausted, and a recovery is likely in the days ahead. With interest rates low and much...
Overview With the FOMC meeting delivered no surprises, attention turns to the ECB meeting as the UK go to the polls. Lagarde will hold her first press conference as ECB president today, and it will naturally command attention. Equities are advancing today, and tech appears to be leading the ...
Macro News US: In a recent note from Credit Suisse , Zoltan Pozsar writes that the liquidity in the market is about to tighten significantly as we approach year-end, which could generate another volatility spike in the market despite the Fed's interventions. Since the start of the QT in l...
Overview: The capital markets continue to tread water as investors await this week's key events. The first, the FOMC meeting concludes later today. Tomorrow features the UK election, where the race appears to have tightened, and Lagarde's first ECB meeting at the helm. Global equities contin...
Overview: Equities are trading lower, and bonds are mixed as the FOMC, UK election, and the US decision on the December 15 tariffs draw near. The MSCI Asia Pacific Index three-day rally ended today as only China and South Korea's markets rose. Europe's Dow Jones Stoxx 600 gapped slightly low...
Overview: The important week is off to a slow start. While the MSCI Asia Pacific benchmark extended its gains for a third session, European and US shares are struggling. The Dow Jones Stoxx 600 is consolidating its pre-weekend 1%+ rally, while US shares are trading heavier after rallying for...
Japan faces a wall of debt that can only be addressed by printing more money and debasing its currency. This means it will be paying off its debt with worthless yen where possible and in many cases defaulting on the promises it has made. Japan currently has a debt/GDP ratio of about 250%, whic...
The strength of the US jobs report stopped the weaker dollar that was threatening to emerge. There are two risk events in the second half of next week: the UK election and Trump's decision on the December 15 tariffs. The market expects a Tory victory, allowing Brexit to proceed, and for the ...
Overview: Global equity markets have resumed their climb after a wobble at the end of last week and earlier this week. A strong recovery in the S&P 500 on Tuesday signaled yesterday's strong advance that left a bullish one-day island low in its wake. MSCI Asia Pacific Index snapped a two...
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Citigroup Global Markets Holdings Inc ZC SP ETN REDEEM 15/12/2032 USD 25 - 17326E662 Company Name:
UJPY Stock Symbol:
NYSE Market:
Citigroup Global Markets Holdings Inc. (“CGMHI”) announced today that it will accelerate at its option, and in full, the ten series of exchange-traded notes listed in the table below (the “ETNs”). Holders of the ETNs will receive a cash payment per ETN in...