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Forex Flash: FLS fails to firefight monetary arson - Nomura

Nomura Economist Phillip Rush notes that there is little evidence that Funding For Lending (FLS) is imparting much stimulus.

He writes, “We do not believe it can do in the presence of strict regulatory pressure to deleverage. Nor is it tying sufficient funding to Bank rate for a cut to be worthwhile. Increasingly repressive policies are being brought up, but softer communication changes are likely to come first, in our view.”

Forex Flash: Contraction of risks to benefit stocks and earnings growth – Goldman Sachs

The rise in the equity risk premium over the last few years led investors to place high premium on companies with stable growth prospects, particularly top-line growth. This has benefitted our stable growers basket and sectors such as food & beverages, which is currently trading at a record premium to the market.
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Forex: EUR/USD keeps the red around 1.3000

After another unsuccessful attempt to follow through the 1.3020 level - which acted as a pretty decent resistance during the European morning - the shared currency is retracing back to the comfort zone around the...
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