|
(CEP News) - Ahead of the Bank of England and European Central Bank rate decisions, European equity markets are trading higher with the Eurostoxx up 12.01 points on the day and the UK FTSE 100 up 22.70 points to 5508.801. In Germany, the bund was down 1.0 tick to 112.84 with yields down 1.1 bps to 4.33% while the 10-year gilt was up 2.0 ticks to 107.95 with yields down 1.1 bps to 4.74%. The euro was up 0.51 cents to 1.5459 USD.
At 7 a.m. EDT, the Bank of England will announce its interest rate decision, and is expected to hold rates unchanged at 5.00%. At 7:45 a.m. EDT, the European Central Bank will make its interest rate announcement, and is expected to hold the main refinancing rate unchanged at 4.25%. The move will be followed by the bank President Jean-Claude Trichet holding a press conference explaining the reasons behind the ECB's decision at 8:30 a.m. EDT. The five-year Bobl was down 2.0 ticks to 107.50, the two-year Schatz down 3.5 ticks to 102.95 and the March 2009 Euribor contract trading down 2.0 ticks to 95.14. The spread between the 10-year Bund and 10-year U.S. Treasury notes narrowed 2.334 bps to -29.20. UK 30-year bond yields were down 1.0 bps to 4.48%, five-year bond yields were down 1.3 bps to 4.67%, while yields on the two-year bond were down 0.7 bps to 4.70%. The March 2009 Short Sterling contract was down 1.0 tick to 94.65. Yields on U.S. 10-year Treasury notes were down 1.2 bps to 4.038%. European stock markets were gaining with the Eurostoxx up 12.01 points to 2930.31, the UK FTSE 100 up 22.70 points to 5508.801 and the German DAX up 18.01 points to 6579.40. The Japanese Nikkei was trading down 129.90 points to 13124.99. The Canadian dollar was up 0.15 cents to 0.9546 against the USD (1.0475 USD/CAD). Against the euro, the loonie was down 0.12 cents to 0.6175 (1.6194 CAD/EUR). The U.S. dollar was down 0.30 to 109.49 and the euro was up 0.11 to 169.27, both against the yen. The euro was up 0.51 cents to 1.5459 while the pound sterling was up 0.26 cents to 1.9504, both against the USD. The euro was up 0.16 cents to 0.7926 pounds. The Swiss franc was up 0.36 cents to 1.0565 against the USD and up 0.01 cents to 1.6332 against the euro. All data were taken at 6:36 a.m. EDT. Generated by CEP Newswires, edited by Nancy Girgis,
This email address is being protected from spam bots, you need Javascript enabled to view it
CEP Newswires - CEP News © 2008. All Rights Reserved. www.economicnews.ca The Copying, Broadcast, Republication or Redistribution of CEP News Content is Expressly Prohibited Without the Prior Written Consent of CEP News. A copy of CEP News disclaimer can be found at http://www.economicnews.ca/cepnews/wire/disclaimer. |
