SMM7 March 12: today's focus on Federal Reserve Chairman Williams attended an online meeting and delivered a speech on Libor.
On the data side, there is no important economic data today.
In terms of macro events, Federal Reserve Chairman Williams attended an online meeting and delivered a speech on Libor.
Bailey, governor of the Bank of England, spoke on the Libor, raising bets that the Bank of England would cut interest rates to avoid a severe recession. Interest rate futures linked to three-month sterling Libor rose above 100 for the first time, suggesting negative rates by March 2022. The previous day, the Libor fell below the Bank of England's benchmark interest rate, a phenomenon often seen as a prelude to a rate cut.
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