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Sen Manchin May Leave Democratic Party




Jens Weidmann Succession at the Bundesbank?


Review $24B 20Y-Bond Auction Re-Open, Large Tail

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  • The greenback trimmed Thursday's losses to close back toward the upper end of the week's range Friday, keeping the USD Index within range of the bull trigger at the mid-August high of 93.73. Friday saw modest risk-off trade, with equities edging lower on the back of further concerns surrounding China's property development giant Evergrande. USD bondholders were yet to receive a payment due on Thursday, potentially triggering the grace period and default process.
  • The risk off tone worked against growth proxies and high beta FX, pressing AUD and NZD to the bottom of the G10 pile. AUD/USD faded back toward the week's lowest, keeping the bearish theme intact and targeting the bear trigger at 0.7220.
  • Focus in the coming week turns to thew fallout from the German elections, MNI Chicago Business Barometer data as well as the ISM and UMich releases.