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29 September 2023
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- Bunds rallied as the flash estimates of euro area inflation in September surprised on the downside while the latest German retail sales and French consumer spending data were also soft.
- Gilts made somewhat smaller gains as the level of UK GDP was revised up again and UK mortgage approvals fell to a six-month low.
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28 September 2023
306 KB
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- Bunds made massive losses even as German inflation fell sharply to a two-year low and the Commission’s sentiment indicator slipped further to suggest contraction in euro area GDP in Q3.
- Gilts made even larger losses despite a quiet day for UK economic news.
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28 September 2023
297 KB
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- Revised Q2 GDP: consumer spending revised lower, business investment adjusted upward
- Benchmark revisions: modest adjustments to growth
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27 September 2023
280 KB
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- Durable goods orders: headline returns to (flat) trend after aircraft-related volatility; upward drift in bookings ex. transportation
- Capital spending: likely soft in Q3
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27 September 2023
306 KB
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- Bunds ended the day lower despite a weakening in lending to euro area businesses and a deterioration in German and French consumer confidence.
- On a quiet day for UK economic releases, Gilts made losses in line with the global trend.
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25 September 2023
259 KB
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- Bunds had a mixed performance, as Lagarde reiterated that the ECB’s policy stance will stay restrictive for as long as necessary, but a German business survey continued to offer a relatively bleak assessment.
- Gilts followed the global trend lower, while a UK retail survey beat expectations, reporting a notably softer pace of decline.
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22 September 2023
366 KB
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- Bunds made modest gains as the flash PMIs underscored the likelihood of contraction in euro area GDP in Q3.
- While UK retail sales and consumer confidence picked up, Gilts made gains as the flash PMIs signalled a more acute slowdown in services activity.
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21 September 2023
283 KB
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- Bunds made losses despite a larger-than-expected deterioration in euro area consumer confidence in September, while a French survey pointed to stable business conditions.
- As the BoE left interest rates unchanged, but maintained a tightening bias and announced an increase in the pace of reduction in its Gilt holdings, Gilts largely made losses.
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