Confirming you are not from the U.S. or the Philippines

Ao fornecer esta declaração, declaro e confirmo explicitamente que:
  • Não sou um cidadão nem residente nos EUA
  • Não sou residente nas Filipinas
  • Não possuo, direta ou indiretamente, mais de 10% de ações/direitos de voto/juros dos residentes dos EUA e/ou não controlo cidadãos ou residentes dos EUA por quaisquer outros meios
  • Não tenha propriedade, direta ou indireta, de mais de 10% de ações/direitos de voto/juros e/ou controlo cidadãos ou residentes dos EUA exercidos por outros meios
  • Não sou afiliado de cidadãos ou residentes dos EUA nos termos da Secção 1504(a) da FATCA
  • Tenho consciência da minha responsabilidade por prestar declarações falsas.
Para efeitos da presente declaração, todos os países e territórios dependentes dos EUA são equiparados de igual modo ao território principal dos EUA. Comprometo-me a defender e a considerar isenta a Octa Markets Incorporated, os seus diretores e oficiais relativamente a quaisquer reivindicações que surjam ou estejam relacionadas com qualquer violação da minha declaração no presente documento.
Dedicamo-nos à sua privacidade e à segurança das suas informações pessoais. Coletamos e-mails apenas para fornecer ofertas especiais e informações importantes sobre nossos produtos e serviços. Ao enviar seu endereço de e-mail, você concorda em receber nossas cartas. Se desejar cancelar a assinatura ou tiver alguma dúvida ou preocupação, entre em contato com o nosso Suporte ao Cliente.
Octa trading broker
Abrir conta de negociação
Back

Australia: Why are Repo & BBSW heading higher? - TDS

The widening in US Libor - OIS spreads since Nov'17 and the concurrent move out in BBSW - OIS spreads suggests the US has driven the local widening and the US may have had some influence, but other factors appear to be driving the rise in BBSW, explains Prashant Newnaha, Senior Asia-Pacific Rates Strategist at TDS.

Key Quotes

“We believe Aussie repo is the primary driver dragging BBSW higher. Since the start of Q4'17, there has been a more persistent trend for secured lending, as measured by the RBA's OMO repo rate, to exceed the cost of unsecured lending, as measured by BBSW.”

“Increased offshore participation to fund longs via repo, the spike in the cost to borrow AUD via FX forwards into yr-end'17 and the Australian Bank Tax all appear to have a role in explaining the rising cost of balance sheet.”

“There has also been a clearer trend for repo to richen further in advance of the turn. With another two weeks to quarter end, the cost of unsecured borrowing should rise as the cost of secured lending increases. For repo to ease, Aussie bonds probably need to underperform.”

“The potential for Australian banks to increase domestic issuance (given the blowout in Libor-OIS makes it more expensive to issue in the US) could provide an alternative explanation for the rise in BBSW. An ongoing rise in Libor - OIS could also crowd out other issuers and warrant a rise in BBSW.”

“Our US Strategy colleagues expect FRA-OIS could be nearing a peak on slowing bill supply next month. This suggests the rise in BBSW could be nearing a peak too, but a broader structural risk for markets is repatriation of US corporate earnings. This could drive a renewed rise in BBSW.”

“AUD funding via FX forwards generally becomes more prohibitive into the turn. The significant widening in cross currency basis raised the cost of AUD funding into the end of 2017 but it is the rise in BBSW that is driving the current increase!”

“We find no strong evidence that Japan fiscal year end is having an impact on repo or FX forwards or money market spreads.”ith unsecured lending now trading above secured lending, and our US Strategy colleagues expecting US FRA-OIS could be peaking in the near term, this implies a retest of the highs in AUD cross currency basis is unlikely.”     

                         

           

EU’s Moscovici: ‘We will give a firm response to the US tariffs’ - Expansión

Expansión, Spanish economic and business newspaper, reported the European Commissioner for Economic and Financial Affairs Pierre Moscovici, as saying
Leia mais Previous

US: Week guided by politics and retail sales - Westpac

Elliot Clarke, Research Analyst at Westpac, notes that in the US, another disappointing retail sales print was received this week, February seeing a t
Leia mais Next