Asia market update: Quiet trading day pre-BOJ rate decision tomorrow, but implied USD/JPY volatility jumps to highest since July 27; $2.35B of M&A activity in Australia.
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Sanofi [SAN.FR] +1%,
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Speakers
- EU s Vestager noted that it was too early to consider a 2nd economic recovery package for the region.
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Hungary Central Bank Dep Gov Virag stated that saw many signs of inflation in the economy with upward risks rising. MPC to be proactive in addressing inflation and stressed that maintenance of price stability would be key. Saw inflation back within range by summer.
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Russia Central Bank Dep Gov Zabotkin stated that monetary policy should return to neutral ( Note: Neutral level for rates seen between 5.0-6.0% area with the One-Week Auction Rate currently standing at 5.00%).
Recipharm [RECI.B.SE] +23% (offer),
Speakers
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EU chief negotiator Barnier said to have told 27 EU envoys that UK was backtracking on fisheries; two sides remained split on state aid issue
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EU chief negotiator Barnier tweet reiterated belief that coming days were important if deal is in place on Jan 1st, 2021. Reiterated that had responsibility to give the talks every chance of success. Reiterated that key issues of Level Playing Field (LPF) and Fisheries remained
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ECB s Villeroy (France) stated that any positive economic effect from coronavirus vaccine would not be felt until the end of 2021
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ECB s Panetta (Italy) reiterated Council view that inflation to remain subdued for a protracted period; prepared to adjust all tools as necessary. Reiterated Council view that an appreciation of the Euro currency could significantly affect the region’s inflation. Says 2021 likely to be a pandemic year