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DAILY MARKET OVERVIEW
Today's Top Market Headlines – Jun 14, 2017
U.K. Squeeze Tightens as Real Wages Drop Most in Almost 3 Years

·Inflation-adjusted earnings fall 0.6% in latest three months
·Hit to living standards adds pressure on premier Theresa May

The squeeze on U.K. households intensified in the three months through April as
weaker wage growth inflicted the biggest loss of purchasing power in almost three
years.
Average earnings rose 1.7 percent, the slowest annual pace since early 2015, the
Office for National Statistics said on Wednesday. Taking inflation into account, they
fell 0.6 percent, the largest drop since August 2014. Barclays said the situation will
continue to worsen this year, while HSBC said the pressure on consumers will last
longer than it previously anticipated.
by Lucy Meakin and Jill Ward
June 14, 2017, 11:30 AM GMT+3 June 14, 2017, 1:45 PM GMT+3
Source: https://bloom.bg/2snBcb5

Bond Traders’ Roadmap to the Fed, Rates and What’ll Move Markets

·While a hike is seen as a given, BMO, TD see room for swings
·Base-case scenarios involve flatter Treasury yield curve

While bond traders see a Federal Reserve rate hike Wednesday as all but baked
in, they’re still bracing for pre-Independence Day fireworks based on the
central bank’s latest pronouncement.
For strategists at BMO Capital Markets and TD Securities, there’s plenty of
room for market swings depending on the Fed’s message in several key areas.
TD’s base case is that officials leave their median forecast for the path of rates
unchanged, look past weaker-than-expected economic data and keep signaling
balance-sheet reduction is ahead. In that scenario, the bank says 10-year yields
and the dollar stand to climb as the message may prove more sanguine on the
economy than investors anticipated.
by Brian Chappatta
June 14, 2017, 12:00 PM GMT+3
Source: https://bloom.bg/2rgJ36S

Oil From OPEC's Rivals to Exceed Demand Growth in 2018

·U.S., non-OPEC nations to boost output by 1.5 million b/d
·Demand for OPEC oil may not be enough to fully end cutbacks

New oil supplies from OPEC’s rivals will be more than enough to meet growth in
demand next year, the International Energy Agency said in its first forecast for
2018, an indication the cartel may need to extend production cuts further.
The U.S., Brazil, Canada and other producers outside the Organization of Petroleum
Exporting Countries will increase output next year by the most in four years, the IEA
said. So while the cutbacks should reduce the world’s bloated oil inventories to
average levels by the time they’re scheduled to end next spring, demand for OPEC
crude won’t be high enough for the group to reverse the curbs without seeing
stockpiles rise again.
by Grant Smith
June 14, 2017, 11:00 AM GMT+3 June 14, 2017, 2:01 PM GMT+3
Source: https://bloom.bg/2rZxW5e