12 Sep 2013
Flash: Risk on, Syria - Nomura
FXstreet.com (London) - Strategists at Nomura noted the play in markets with regards to Syria, NFP’s and Us yields.
Key Quotes:
“With strong Chinese data and the US favouring diplomacy over Syria, it was broadly risk-on this week with USD lower across G10 and EM along with stronger equities on a global basis”.
“After last week‟s soft NFP report with the September FOMC meeting edging closer, US 10yr failed to break 3.0% and gradually fell to 2.88%. Australian and Norwegian political election results provided no surprises, while revisions higher for Japanese GDP potentially decreased the risk of a delay to the consumption tax hike.
Key Quotes:
“With strong Chinese data and the US favouring diplomacy over Syria, it was broadly risk-on this week with USD lower across G10 and EM along with stronger equities on a global basis”.
“After last week‟s soft NFP report with the September FOMC meeting edging closer, US 10yr failed to break 3.0% and gradually fell to 2.88%. Australian and Norwegian political election results provided no surprises, while revisions higher for Japanese GDP potentially decreased the risk of a delay to the consumption tax hike.