Things continue to get worse for Greece, which has been weighting on the EUR. An FT article reported that more than €10bn of deposits have been withdrawn the four largest Greek banks, forcing them to ask the Greek government for extra liquidity (from remaining Bank Support Package). This is not a good omen for the €10bn Greek auction expected next week. Marketers have been focused on the US since demand has dried up in Europe, but considering the last issuance has lost around 8% of initial valu…

A zero sum gain happened on Thursday, as the major pairs split 20-30 pip between them in 24 hours of trade, and with none able to break the previous session of trade ranges. The instigator of initial Usd buying was the S/P futures market going lower in pre-market trade, but…

The JPY rally turned tail quickly today and transformed into a JPY rout by late in the US session after the 30-year US T-bond auction failed to show the kind of stellar results that yesterday’s 10-year auction showed. The bid to cover was 2.73 vs. the 2.55 average of the…

The dollar relinquished overnight gains versus the majors in the New York session, slipping back toward 1.0020 versus the Loonie and drifting to 0.9280 against the Aussie. US equities were up marginally by afternoon trading, with both the Dow Jones and S&P 500 creeping up by 0.3%. Crude oil extended…

The extended collateral regime is continued in 2011 for some but not all instruments. The minimum credit threshold for marketable and non-marketable assets in the Euro system collateral framework will be kept at BBB-/Baa3 beyond the end of 2010, except in the case of asset-backed securities. A schedule of graduated…