European Briefing - Friday 17.04
Headlines
  • ECB’s Nagel Says Keeping Options Open Ahead Of April Meeting
  • BoJ Chief Avoids Hints Of April Rate Hike, Shattering Hawkish Bets
  • BoJ’s Ueda Sees Upside Risks To Prices, Downside Economic Risks
  • Treasury Yields Rise Amid Growing Expectations Of US-Iran Peace
  • Trump: Next Round Of US-Iran Talks Could Happen Over Weekend
  • G7 FinMins: Urgent To Limit MidEast War’s Cost To GlobalEcon
  • Oil, Gas Recovery May Take Two Years After War, IEA’s Birol Says
  • Iran War And Global Debt Cloud IMF-World Bank Meetings
  • Asia Relying On US Crude To Replace Middle East Supply
  • Hormuz Blockade Stirs Tension Over Malacca Strait Near Singapore
  • China Steps Up Outreach To Italy During Trump’s Rift With Meloni
  • Foreign Trading Of Chinese Bonds Via Hong Kong Hits Record High
  • OpenAI Takes On Google With New AI Model Aimed At Drug Discovery
  • Netflix Revenue Beats, Co-Founder To Leave Board At End Of Term
Commentary
ECB’s Nagel: Keeping Options Open Ahead Of April Meeting

It would be a mistake for the European Central Bank to signal where interest rates will be headed later this month, according to Governing Council member Joachim Nagel.

Policymakers don’t yet have sufficient information whether a surge in energy costs will keep inflation high for longer — an outcome that would warrant a response, Nagel told reporters in Washington, where he’s attending the spring meetings of the International Monetary Fund. A decision will be taken when the Governing Council meets in two weeks. (BBG – Continue Reading)

BoJ Chief Avoids Hints Of April Hike, Shattering Hawkish Bets

Bank of Japan Governor Kazuo Ueda steered clear of signalling a rate hike was on the cards this month, instead highlighting the country's low real interest rates and robust corporate profits, heightening the chance it will hold fire at least until June.

Japan is facing rising inflation from a "negative supply shock," which is more difficult to rein in with monetary policy than inflation driven by strong demand, Ueda said.

The best approach to such a shock would vary from country to country, Ueda told a press conference after attending the International Monetary Fund (IMF) meetings in Washington. (RTRS – Continue Reading)

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/*jshint esversion: 6 */ var socket; var assigned_server = 3001; var distributor_server = 3010; var publisher_channel = ''; var broadcaster_channel = ''; var remote_ip = ''; var session_info = {}; var logging_interval; var logging_interval_time = 120000; var socket_emits = 0; var session_start_time; var reconnectionDelayGrowFactor = 1.2; var reconnection_delay = 1000; var playing = false; var connected_to_assigned = false; var socket_close_timeout; var player_disconnected_annoucement_play_delay = 1500; var player_disconnected_annoucement_play_timeout = null; self.onmessage = function (msg) { switch(msg.data.action) { case 'Reactivate': reactivate(); break; case 'ConnectDistributor': connect_to_distributor(msg); break; case 'SessionStaticInfo': session_static_info(msg); break; case 'SessionInfo': update_session_info(msg.data); break; case 'PauseLogging': clearTimeout(logging_interval); break; case 'RestartLogging': postMessage({action: 'RequestSessionStaticInfo' }); break; case 'JoinPublisherChannel': join_publisher_channel(msg.data); break; case 'JoinPlayerChannel': join_player_channel(msg.data); break; case 'CheckChannelStatus': check_channel_status(msg.data); break; case 'PlayerLogResponse': player_log_response(msg.data); break; case 'CloseSocket': close_socket(); break; case 'RequestMessageSearch': request_message_search(msg.data); break; case 'RequestMoreMessages': request_more_messages(msg.data); break; case 'PlayerDisconnectedAnnoucementTimeoutStart': player_disconnected_annoucement_timeout_start(); break; case 'PlayerDisconnectedAnnoucementTimeoutClear': player_disconnected_annoucement_timeout_clear(); break; } }; function player_disconnected_annoucement_timeout_clear() { clearTimeout(player_disconnected_annoucement_play_timeout); player_disconnected_annoucement_play_timeout = null; } function player_disconnected_annoucement_timeout_start() { player_disconnected_annoucement_play_timeout = setTimeout(function() { send_play_disconnect_annoucement(); }, player_disconnected_annoucement_play_delay ); } function send_play_disconnect_annoucement() { postMessage({action: "PlayDisconnectAnnoucement"}); } function reactivate() { playing = false; connect_to_assigned_server(); } function player_log_response(data) { var data_array = {}; data_array.type = 'PlayerLogResponse'; data_array.respond_to_socket_final = data.respond_to_socket_final; data_array.respond_to_socket = data.respond_to_socket; data_array.player_socket_id = data.player_socket_id; data_array.logs = data.logs; var msg_string = JSON.stringify(data_array); if (socket.readyState == 1) { socket.send(msg_string); } } function request_message_search(data) { var data_array = {}; data_array.type = 'request_message_search'; data_array.publisher_channel = data.publisher_channel; data_array.search_term = data.search_term; var msg_string = JSON.stringify(data_array); if (socket.readyState == 1) { socket.send(msg_string); } } function request_more_messages(data) { var data_array = {}; data_array.type = 'request_more_messages'; data_array.publisher_channel = data.publisher_channel; data_array.last_record_id = data.last_record_id; var msg_string = JSON.stringify(data_array); if (socket.readyState == 1) { socket.send(msg_string); } } function check_channel_status(data) { var data_array = {}; data_array.type = 'check_channel_status'; data_array.app_name = data.app_name; var msg_string = JSON.stringify(data_array); if (socket.readyState == 1 && connected_to_assigned) { socket.send(msg_string); } else { setTimeout(function() { check_channel_status(data); },500); } } function check_channel_status_response(data) { postMessage({ action: 'CheckChannelStatusReponse', stream_status: data.stream_status.status, onair: data.stream_status.onair, connected: data.stream_status.connected }); } function join_publisher_channel(data) { var data_array = {}; data_array.type = 'join_publisher_channel'; if (typeof data.api_key !== 'undefined') { data_array.api_key = data.api_key; } else { data_array.publisher_channel = data.publisher_channel; data_array.username = data.username; data_array.subscriber_group = data.subscriber_group; data_array.display_name = data.display_name; data_array.single_sign_on = data.single_sign_on; data_array.remote_ip = data.remote_ip; data_array.http_referrer = data.http_referrer; data_array.current_page = data.current_page; data_array.php_session_id = data.php_session_id; data_array.from_react = data.from_react; } var msg_string = JSON.stringify(data_array); if (socket.readyState == 1) { socket.send(msg_string); } postMessage({action: 'PublisherChannelJoined' }); } function session_static_info(msg) { set_static_session_info(msg.data); start_log(); } function connect_to_distributor(msg) { publisher_channel = msg.data.publisher_channel; remote_ip = msg.data.remote_ip; socket = new WebSocket("wss://ws.livesquawk.com/ws"+distributor_server); socket.onopen = function(event) { request_server_assignment(); }; socket.onmessage = function(event) { var msg_string = event.data.toString(); var data = JSON.parse(msg_string); switch(data.type) { case 'server_assignment_response': server_assignment_response(data); break; } }; } function session_info_interval() { postMessage({action: 'RequestSessionInfo' }); logging_interval = setTimeout(session_info_interval,logging_interval_time); } function server_assignment_response(data) { assigned_server = data.selected_server; socket.close(); connect_to_assigned_server(); } function request_server_assignment() { var data_array = {}; data_array.type = 'request_server_assignment'; var msg_string = JSON.stringify(data_array); if (socket.readyState == 1) { socket.send(msg_string); } } function connect_to_assigned_server() { socket = new WebSocket("wss://ws.livesquawk.com/ws"+assigned_server); socket.onopen = function(event) { postMessage({ action: 'VisibleConsole',console_string: "Connected to server "+assigned_server }); console.log("Connected to server "+assigned_server); postMessage({ action: 'ConnectedToAssigned' }); connected_to_assigned = true; if (playing) { postMessage({ action: 'RejoinPlayerChannel' }); } }; socket.onmessage = function(event) { var msg_string = event.data.toString(); var data = JSON.parse(msg_string); if (data.type != 'server_ping') { /* console.log(data.type); */ } switch(data.type) { case 'reconnect': postMessage({ action: 'VisibleConsole',console_string: "Reconnected" }); break; case 'reload': postMessage({ action: 'Reload' }); break; case 'start_log_response': start_log_response(data); break; case 'application_refresh_start': application_refresh_start(data); break; case 'application_refresh_stop': application_refresh_stop(data); break; case 'player_log_request': case 'check_channel_status_response': check_channel_status_response(data); break; case 'PlayerLogRequest': case 'new_tweet': case 'new_latest_news': case 'delete_report': case 'add_report': case 'add_ref_doc': case 'calendar_change': case 'calendar_insert': case 'calendar_delete': case 'new_note': case 'AppStart': case 'AppStop': case 'BroadcasterStarted': case 'BroadcasterStopped': case 'added_cme_report': case 'updated_cme_report': case 'added_cme_commentary': case 'updated_cme_commentary': case 'server_assignment_response': case 'initial_messages': case 'message_categories': case 'more_messages': case 'matched_messages': pass_straight_to_post_message(data); break; case 'output': case 'server_ping': case 'reconnect': case 'disconnect': break; } }; socket.onerror = function(event) { postMessage({ action: 'VisibleConsole',console_string: "LS Socket Error" + event.type }); console.log(event); postMessage({ action: 'LSSocketConnectionError' }); }; socket.onclose = function(event) { console.log('Socket is closed. Reconnect will be attempted in 1 second.', event.reason); socket_close_timeout = setTimeout(connect_to_assigned_server, reconnection_delay); reconnection_delay = reconnection_delay*reconnectionDelayGrowFactor; connected_to_assigned = false; }; } function close_socket() { clearTimeout(socket_close_timeout); socket_close_timeout = null; socket.onclose = function(event) {}; socket.onmessage = function(event) {}; socket.onerror = function(event) {}; socket.close(1000); console.log('Socket Closed'); } function pass_straight_to_post_message(data) { data.action = data.type; postMessage(data); } function join_player_channel(data) { var data_array = {}; data_array.type = 'join_player_channel'; data_array.player_channel = data.player_channel; data_array.remote_ip = data.remote_ip; data_array.username = data.username; data_array.app_name = data.app_name; data_array.onair_status = data.onair_status; data_array.http_referrer = data.http_referrer; data_array.current_page = data.current_page; data_array.php_session_id = data.php_session_id; var msg_string = JSON.stringify(data_array); if (socket.readyState == 1) { socket.send(msg_string); } postMessage({action: 'PlayerChannelJoined' }); playing = true; } function start_log_response(data) { session_info.session_id = data.log_record_id; session_info_interval(); } function application_refresh_start(data) { if (data.app_name == session_info.application_name) { postMessage({action: 'ApplicationRefreshStart' }); } } function application_refresh_stop(data) { if (data.app_name == session_info.application_name) { postMessage({action: 'ApplicationRefreshStop' }); } } function set_static_session_info(data) { session_info.browser_codename = data.browser_codename; session_info.browser_name = data.browser_name; session_info.user_agent = data.user_agent; session_info.browser_version = data.browser_version; session_info.cookies_enabled = data.cookies_enabled; session_info.platform = data.platform; session_info.player_version = data.player_version; session_info.stream = data.stream; session_info.connection_protocol = data.protocol; session_info.delay_target = data.delay_target; session_info.session_email = data.session_email; session_info.remote_ip = data.remote_ip; session_info.php_session_id = data.php_session_id; session_info.application_name = data.application_name; session_info.http_referrer = data.http_referrer; } function start_log() { var session_start_date = new Date(); session_start_time = session_start_date.getTime(); var months = ['Jan','Feb','Mar','Apr','May','Jun','Jul','Aug','Sep','Oct','Nov','Dec']; var session_start_date_string = session_start_date.getDate() + " " + months[session_start_date.getMonth()] + " " + session_start_date.getFullYear(); var data_array = {}; data_array.type = 'webrtc_start_log'; data_array.remote_ip = session_info.remote_ip; data_array.username = session_info.session_email; data_array.php_session_id = session_info.php_session_id; data_array.webrtc_protocol = ''; data_array.session_start_time = (session_start_time/1000).toFixed(0); data_array.stream_name = session_info.stream; data_array.session_start_date = session_start_date_string; var msg_string = JSON.stringify(data_array); if (socket.readyState == 1) { socket.send(msg_string); } } function update_session_info(data) { var data_array = {}; var msg_string = ''; var current_date = new Date(); var current_time = current_date.getTime(); session_info.protocol = data.protocol; session_info.curr_delay = (data.effective_latency / 1000).toFixed(2); session_info.session_length = current_time - session_start_time; session_info.ping_time = data.ping_time; session_info.jitter = data.jitter; session_info.packet_loss = data.packet_loss; session_info.effective_latency = data.effective_latency; session_info.mean_opinion_score = data.mean_opinion_score; session_info.restarts = data.restarts; if (socket_emits == 0) { data_array = {}; data_array.type = 'webrtc_log_data_full'; data_array.connection_protocol = session_info.protocol; data_array.threshold = 0; data_array.curr_delay = session_info.curr_delay; data_array.session_length = session_info.session_length; data_array.date = current_time; data_array.browser_codename = session_info.browser_codename; data_array.browser_name = session_info.browser_name; data_array.user_agent = session_info.user_agent; data_array.browser_version = session_info.browser_version; data_array.cookies_enabled = session_info.cookies_enabled; data_array.platform = session_info.platform; data_array.player_version = session_info.player_version; data_array.stream = session_info.stream; data_array.restarts = session_info.restarts; data_array.delay_target = 0; data_array.op_sys = ''; data_array.flash_version = ''; data_array.remote_ip = session_info.remote_ip; data_array.http_referrer = session_info.http_referrer; data_array.php_session_id = session_info.php_session_id; data_array.user_email = session_info.session_email; data_array.webrtc_protocol = session_info.protocol; data_array.ping_time = session_info.ping_time; data_array.jitter = session_info.jitter; data_array.packet_loss = session_info.packet_loss; data_array.effective_latency = session_info.effective_latency; data_array.mean_opinion_score = session_info.mean_opinion_score; data_array.session_id = session_info.session_id; msg_string = JSON.stringify(data_array); if (socket.readyState == 1) { socket.send(msg_string); } } else { data_array = {}; data_array.type = 'webrtc_log_data'; data_array.session_id = session_info.session_id; data_array.php_session_id = session_info.php_session_id; data_array.connection_protocol = session_info.protocol; data_array.restarts = session_info.restarts; data_array.threshold = 0; data_array.curr_delay = session_info.curr_delay; data_array.session_length = session_info.session_length; data_array.date = current_time; data_array.webrtc_protocol = session_info.protocol; data_array.ping_time = session_info.ping_time; data_array.jitter = session_info.jitter; data_array.packet_loss = session_info.packet_loss; data_array.effective_latency = session_info.effective_latency; data_array.mean_opinion_score = session_info.mean_opinion_score; data_array.stream = session_info.stream; msg_string = JSON.stringify(data_array); if (socket.readyState == 1) { socket.send(msg_string); } } socket_emits++; if (socket_emits == 100) { socket_emits = 0; } }