Week of July 15, 2012 thru July 21, 2012

TheFXSpot:Mild Relief Rally In Fin Mkt; Bernanke Testmny Eyed


NEW YORK, July 13 (MNI) - Financial markets saw a mild relief rally Friday, with stock and commodity prices rising and the dollar falling because the market's worst fears about China, the eurozone and the U.S. failed to materialize.

US News Events Calendar


--Meetings & Events of Interest to Subscribers

DATE GMT / ET EVENT

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16-Jul 1330/0930 IMF publishes updated World Economic Outlook, Global Financial Stability Report and Fiscal Monitor, with news conference with Olivier Blanchard, chief economist, Jose Vinals, director of the Monetary and Capital Market Department and Carlo Cottarelli, director of the Fiscal Affairs Department.

16-Jul 1800/1400 Fourth-highest ranking Democrat in the Senate leadership, Patty Murray, addresses the "fiscal

Fed's Lockhart: Closer To QE3 Camp; But Only If Outlk Worsens


JACKSON, Mississippi (MNI) - Atlanta Federal Reserve Bank President Dennis Lockhart Friday said while he remains on the fence regarding the need for additional monetary stimulus to boost job growth, his "receptivity" towards the idea has increased "a bit."

His comments, made to reporters following a speech to the Mississippi Economic Council in Jackson, Mississippi, underlines the conundrum the central bank faces as it contemplates whether or not to once again venture into unchartered territory to aid the weak economy.

FXWRAP: Dlr Slips As Euro Claws Back Losses,Remains Off On Wk


NEW YORK, July 13 (MNI) - The dollar was nursing modest losses against the euro and the yen at the end of Friday trading, but the euro was barely recovered after setting a fresh two-year low early in the trading day.

Euro-dollar was changing hands at $1.2240 Friday afternoon, the euro in the upper reaches of the day's $1.2162-1.2257 range after seeing both the high and the low of the Friday session during U.S. hours.

Dollar-yen meantime was changing hands at Y79.25, the dollar in the middle of a snug Y79.07-32 range.

Euro-dollar began the U.S. session around $1.2195 while dollar-yen started the day at Y79.30.

US Swaptions: Back To Lower Levels, Quiet End To Week


CHICAGO, July 13 (MNI) - Over-the-counter swaption volatility opened steady-to-lower Friday, holding a narrow range into the second half, a quiet end to a quiet week for swaptions.

Federal Reserve State of Play - By Joe Plocek - 07/13/2012


Is a more dovish Fed coming? Atlanta Federal Reserve President Dennis Lockhart, an FOMC voter this year and an important bellwether for the middle of the roaders, all but said so today in a speech on "The Debate Over Further Monetary Action." Lockhart said it's possible another QE decision looms and he favors modest action. But he also warned that more action is liable to disappoint, t

STATE OF PLAY FOR FED MONETARY POLICY -- 13 July


- Is a more dovish Fed coming? Atlanta Fed Pres Lockhart, an FOMC voter this year and an important bellwether for the middle of the roaders, all but said so today in a speech on "The Debate Over Further Monetary Action." Lockhart said it's possible another QE decision looms and he favors modest action. But he also warned that more action is liable to disappoint, that is, to be of modest size

STATE OF PLAY FOR FED MONETARY POLICY -- 13 July


- Is a more dovish Fed coming? Atlanta Fed Pres Lockhart, an FOMC voter this year and an important bellwether for the middle of the roaders, all but said so today in a speech on "The Debate Over Further Monetary Action." Lockhart said it's possible another QE decision looms and he favors modest action. But he also warned that more action is liable to disappoint, that is, to be of modest size

Fed's Lockhart: Mon Pol Untenable If Econ Cont On Currnt Track


--Current Pol Support Rests On Forecast Of Output,Job Growth By Year-End
--Monetary Policy Not Impotent Nor Has It Reached Its Limit
--Should Have Modest Expectations Of What Further Action Can Accomplish

JACKSON, Mississippi (MNI) - If the U.S. economy continues along its present weak path, as indicated by recent economic indicators, then the current stance of monetary policy will become "untenable," Atlanta Fed President Dennis Lockhart said Friday.

US Corporate Bond Chatter: Supply Surge Sees Good Demand


NEW YORK, July 13 (MNI) - Issuers of investment-grade corporate bonds this week crowded into the primary debt market to announce a raft of new deals, while a backdrop of global uncertainties continued to fuel anxiety.