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JPM Cognisant Of Pull Back In Liquidity When Assessing Recent Moves

US TSYS

J.P.Morgan write “we are hesitant to read too much into recent market moves: the seasonal decline in market liquidity has started, with depth down 10% from last week’s peak and should continue to decline as the month proceeds. Furthermore, the RMSE relative to our par curve has drifted higher. Overall, these factors indicate that year-end technicals could be exaggerating fundamental moves.”

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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