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7 December 2022
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- Bunds made gains even as consumer inflation expectations remained elevated, German IP data for October beat expectations and euro area Q3 GDP growth was revised up.
- Gilts also made gains as a measure of UK house prices fell the most in fourteen years.
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6 December 2022
431 KB
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- Bunds made losses as ECB Chief Economist Lane signalled that he might well recommend a slowing in the pace of tightening at next week’s Governing Council meeting.
- Gilts also made losses as a UK retail survey implied a marked drop in sales volumes in November, while the construction PMI also fell more than expected.
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5 December 2022
424 KB
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- Despite a slump in euro area retail sales at the start of Q4, Bunds followed USTs lower as several ECB members signalled that rates would need to rise further in the New Year.
- Gilts made gains as the final UK services PMIs remained consistent with contraction in November and flagged a notable weakening in demand.
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5 December 2022
1107 KB
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- HSBC Canada sale to RBC will free up capital but won’t quell shareholder’s demands for business break-up unless the group becomes consistently more profitable
- Council of Europe Development Bank raises new paid-in capital to address succession of crisis
- Primary market activity for FIGs and SSA slows but benign conditions allow for 2023 pre-funding. FIG lenders, including sub-investment grade issuers, are able to place otherwise challenging sub-debt trades. Secondary market spreads continue to tighten for EUR and USD
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2 December 2022
527 KB
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- Bunds followed USTs lower despite a larger than expected moderation in euro area producer price inflation in October.
- Gilts also made losses on a quiet end to the week for UK economic news.
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2 December 2022
199 KB
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- Employment: firm payroll growth; jump in hourly earnings
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2 December 2022
498 KB
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- The U.S. labour market: a few cracks; no meaningful breakage
- Inflation: a new metric to guide Fed decisions
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1 December 2022
525 KB
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- While the euro area unemployment rate dropped to a new series low, Bunds rallied hard as German retail sales slumped.
- Gilts also made gains as a BoE survey reported a moderation in inflation expectations and UK house prices fell by more than expected.
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