Royal Bank Of Scotland Share Discussion Threads

[ramco] 16/7/2015 13:50

Following last week's spike in initial jobless claims, this week saw a modest pull back to 281k (slightly better than the 285k expectations) but hovering at the average for the year, notably confirming that post-QE3 we have seen the improving trend in claims cease. The smoother 4-week average rose to 282k - the highest in almost 3 months.

[ramco] 16/7/2015 13:49

As well as Fed Chair Yellen, yesterday we also heard from San Francisco Fed President Williams (voter) who said that the September meeting ‘would be a very plausible time’ to start liftoff. Williams also said that ‘there’s a good chance we’ll overshoot’ the Fed’s 2% inflation goal by the end of 2016 but that wouldn’t be an issue in his mind, however Williams did warn that the ‘strengthening of the dollar’ has greater policy implications. Kansas City Fed President George (non-voter) was consistent with much of the other rhetoric yesterday, saying that the Fed head should begin to think about liftoff without narrowing down her timeframe. Finally Cleveland Fed President Mester (non-voter) said that the economy can handle an increase in rates and that the risks from Greece are not big enough to change her outlook.

[ramco] 16/7/2015 13:42

ECB LEAVES BENCHMARK INTEREST RATE UNCHANGED AT 0.050%
ECB LEAVES MARGINAL RATE UNCHANGED AT 0.300%
ECB DEPOSIT FACILITY RATE UNCHANGED AT MINUS 0.200%

[ramco] 16/7/2015 13:40

EURUSD Plunges To 1.08 Handle, 2-Month Lows....

[ramco] 16/7/2015 13:34

Treasuries fall after Greek parliament last night passed new austerity measures, as euro-area finance ministers said to agree in principle to extend EU7b bridge loan to Greece.

Add: hmmmm only a couple of months ago...

Eurogroup chief Jeroen Dijsselbloem rejected a request for a short-term financing agreement to keep the country afloat while it renegotiates the terms of its bailout program. "We don’t do bridge loans, Dijsselbloem told reporters in The Hague", when asked about Greece’s request.

[ramco] 16/7/2015 13:33

8:30am: Initial Jobless Claims, July 11, est. 285k (prior 297k); Continuing Claims, July 4, est. 2.300m (prior 2.334m)
9:45am: Bloomberg Consumer Comfort, July 12 (prior 43.5); Bloomberg Economic Expectations, July (prior 47.5)
10:00am: Philadelphia Fed Business Outlook, July, est. 12 (prior 15.2)
10:00am: NAHB Housing Market Index, July, est. 59 (prior 59)
2:00pm: Net Long-term TIC Flows, May (prior $53.9b); Total Net TIC Flows, May (prior $106.6b)
Central Banks

7:45am: ECB refinancing rate, est. 0.05% (prior 0.05%)
8:30am: Draghi press conference
2:00pm: Bank of England’s Carney speaks in Lincoln, England
2:30pm: Yellen testifies to Senate Banking Committee

[ramco] 16/7/2015 13:33

A very sorry state of affairs to see democratic principles tossed into the gutter...having said that if wishes were horses beggars would ride....

[leedskier] 16/7/2015 13:12

Netanyahu seems hell bent on Israel being cast out, not only by its enemies, but its friends.

[leedskier] 16/7/2015 10:55

Australia win the toss and decide to bat ... where are those clouds when we need them?

[leedskier] 16/7/2015 10:34

He should follow the example of the last Greek finance minister and resign for the greater good.

[maxk] 16/7/2015 10:24

Oh dear...




Germany's Schä uble Dismisses Greek Haircut Option

Date : 16/07/2015 @ 10:10
Source : Dow Jones News



Germany's Schäeuble Dismisses Greek Haircut Option




BERLIN—German Finance Minister Wolfgang Schä uble Thursday cast doubt on Greece's future in the eurozone, saying that many economists thought the country needed a debt write-down—something he insisted wasn't legally possible as long as it remained a member of the currency area.

But the most influential member of Chancellor Angela Merkel's government also stressed that eurozone members now had a duty to start negotiating with Greece about the terms of a new bailout provided Athens fulfilled the conditions it agreed to at a summit of the region's leaders on Monday.

Speaking on Deutschlandfunk radio, Mr. Schä uble indicated that he still believes a temporary Greek exit from the single currency union, which he proposed last weekend, could be the best option for Greece.

"Perhaps it would be the better path for Greece," he said.

He stressed Greece's situation is "extraordinarily difficult," given the country's already high debt level and need for another aid package of up to €86 billion ($94.5 billion).

"I don't know, nobody knows at the moment how this should be possible without a haircut. And everybody knows that a haircut is incompatible with a membership in the monetary union," he said. "But we will take up negotiations (about a third bailout), we will make any effort, but we must respect the rules."

A so-called haircut on debt is a write-down on the face value of Greek government bonds. The International Monetary Fund has repeatedly called for more debt relief for Greece to make the country's debt level sustainable.

Mr. Schä uble said Greece's creditors would now assess whether Athens had fulfilled the conditions to start formal bailout talks.

If the assessment is positive, he said he would ask the German lower house to give the government a mandate to start such talks at a vote expected to take place Friday.

He also said the austerity measures passed by the Greek Parliament early Thursday were an important step. The measures include steep spending cuts and tax increases, needed to secure a fresh bailout.

Eurozone leaders Monday agreed that Greece could receive up to €86 billion in fresh loans provided Athens enacts several bills, such as pension reforms and higher taxes.

Write to Andrea Thomas at [e-mail]

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[leedskier] 16/7/2015 10:22

Dr Strangelove shares his thoughtsBloomberg - Schaeuble Shrugs Off Greek Vote Saying Euro Exit Is Best

[leedskier] 16/7/2015 10:01

The City seems to have achieved its desire to create a spread betting casino, in which the house is the only winner.

[avatar333] 16/7/2015 09:18

Oops! Forgot to mention The British Open golf.

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[avatar333] 16/7/2015 09:04

No rain forecast, as far as I can see.

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[avatar333] 16/7/2015 08:53

And The Davis Cup tomorrow, leedskier.

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[leedskier] 16/7/2015 08:49

Good Morning AV we have the mouth water (always assuming it will not be a grass watering) prospect of a Test Match today.

[leedskier] 16/7/2015 08:48

For those ex pats living in the Eurozone, the GBP buys 1.434 EURO.

[avatar333] 16/7/2015 08:47

Morning.

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[leedskier] 16/7/2015 08:41

I cannot believe that the possibility of the FED and BoE raising rates by 0.25% is really impacting on the cash equity markets!

Is the FTSE100 really underpinned by leveraged day traders?

[leedskier] 16/7/2015 08:39

The DAX is up 0.81%

[begorrah88] 16/7/2015 08:16

...and the FTSE gives up any gain at all