Monday 22nd March 2021
The Fed will push on with ending its lower capital requirements held against Treasurys, sticking with a schedule that will see the so-called supplementary-leverage ratio (SLR) ending on 31st March. Although not unexpected, NAB’S Rodrigo Catril says it risks weakening the appetite for bonds at a time when there is a much higher issuance doing down the pipeline. He explains why markets calmed down a little later I the Friday session. Today we can expect some response to President Erdogan’s decision to sack Turkey’s central bank governor for having the temerity to raise interest rates. Otherwise, it could be a fairly quiet start to the week.