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23 June 2023
366 KB
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- Bunds rallied as the flash euro area PMIs for June signalled a significant loss of economic growth momentum.
- While the flash UK PMIs also missed expectations, Gilts made losses at the short end of the curve but gains further out as retail sales rose for a second successive month and consumer confidence improved.
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23 June 2023
509 KB
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- U.S. economy: growth track in 23-H1, but possible (mild) recession in H2
- The yield curve: inversion to persist in 2023
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22 June 2023
253 KB
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- Gilts made losses at the short end but gains at the long end as the BoE raised Bank Rate by 50bps and signalled the likelihood of further tightening to come.
- Bunds made losses as euro area consumer confidence beat expectations.
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21 June 2023
302 KB
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- Gilts sold off once again as the UK’s May inflation data exceeded expectations with the core CPI rate rising to a new three-decade high.
- Bunds also made losses while euro car registrations once again posted solid growth.
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20 June 2023
278 KB
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- Housing Starts: jump in May; new cycle high for multi-family building; stabilizing single-family activity
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16 June 2023
359 KB
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- Bunds made gains particularly at the longer end of the curve and BTPs outperformed as euro area labour cost growth moderated and various measures of euro area underlying inflation improved slightly.
- Gilts made losses despite a moderation in UK inflation expectations.
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15 June 2023
343 KB
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- Retail sales: modest increase in May
- Industrial production: pickup in manufacturing, declines in mining and utility output
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15 June 2023
273 KB
PDF
- Bunds made significant losses as the ECB raised rates by 25bps, signalled the likelihood of further tightening to come, and revised up its forecast for core inflation.
- Shorter-dated Gilts followed Bunds lower on a quiet day for UK economic data.
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