26 September 2022
Chris Scicluna
,
Emily Nicol
- While far more stable than Gilts, Italian spreads widen after right-wing coalition on track for majorities in both houses of parliament
- Japanese flash PMIs flag ongoing challenges
- Flash euro area inflation estimates (due Friday) expected to report that the headline HICP rate jumped in September
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23 September 2022
Chris Scicluna
,
Emily Nicol
- The flash euro area PMIs are set to imply contraction in economic activity at the end of Q3
- GfK consumer confidence survey suggests that UK households have never been so downbeat
- UK government set this morning to deliver a mini-budget and present its new growth strategy of unfunded tax cuts
- Sunday’s Italian election to place populist nationalist Meloni at head of right-wing coalition
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22 September 2022
Chris Scicluna
,
Emily Nicol
- As expected, the SNB raises rates by 75bps to leave the BoJ the only central bank with a negative policy rate
- BoE set to raise rates today by at least 50bps and confirm the start of active Gilt sales later this month
- Fed hikes by 75bps as expected, but signals a higher terminal fed funds rate than previously suggested, above 4½%
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21 September 2022
Emily Nicol
,
Chris Scicluna
- Ahead of Friday’s mini-budget, today’s monthly UK public finances figures saw net borrowing exceed expectations in August, in part reflecting record debt interest payments for that month
- All eyes on the Fed tonight, with the FOMC expected to hike rates by 75bps and signal a terminal rate above 4% in its updated projections
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20 September 2022
Chris Scicluna
,
Emily Nicol
- German producer prices smash records again in August due to energy shock but hints of cooling elsewhere
- Sweden's Riksbank sets the tone for the week's monetary policy announcements, with a hike of 100bps in its Policy Rate to 1.75%
- As the latest two-day FOMC meeting gets underway, the downtrend in US housing starts is expected to pause in August
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