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Global disinflationary environment to last - TDS

FXStreet (Guatemala) - Analysts at TD Securities explained that they feel that the global disinflationary environment is likely to last longer than expected.

Key Quotes:

“As Chinese, EM, and Eurozone growth remains soft and supply keeps oil prices low”.

“This opens up a more uncertain macro and market environment and suggests limited scope for rates to rise globally”.

“We have delayed our rate hike expectations for all G10 central banks outside of the Fed and BoC”.

“This provides a bias to be long USD and short Treasuries, with the only questions being against what?”.

“We like owning NZ 3s and Canada and UK 5s versus US Treasuries. We like being long the USD versus JPY and CAD, as well as regional opportunities to be long AUD/NZD and MXN/COP and short EUR/GBP”.

“But trading is likely to be a tale of two halves as we wait for the inflationary impulses to re-emerge much later in 2015”.

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