we expect long-term JGB purchase operations to be
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he did not believe they would have to be lowered. He
JGB yield guidelines are probably around 0% for
taking into consideration negative effects of
rather than debt reduction (Chart 73). The cyclical
and the low debt service costs enjoyed in the past five
we recommend buying 30s50s flatteners in BTPs as the
and elections in France and Germany in 2017).
particularly in the 2030-38 maturity bucket.
are very cheap versus OIS and Libor swap rates.
but Republican financial policy leaders appear promarkets
the transition team posted a statement that it will be “working to
FX & EM 2017 Year Ahead | 16 November 2016
a former SEC commissioner under George W Bush
cross-currency basis & coupon vs principal STRIPS
percentage of respondents in Global Fund Manager Survey
we believe tail-risk hedging will be more important than ever
were either during the event itself (China recession worries alongside capital
and we do not expect the central bank to intervene
FX & EM 2017 Year Ahead | 16 November 2016