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25 July 2023
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- Bunds made modest losses even as the ECB’s latest Bank Lending Survey reported a record decline in demand for business loans and Germany’s ifo business survey signalled a marked deterioration in current conditions.
- Gilts also made losses as UK manufacturing survey signalled an improvement in business sentiment, output and orders.
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24 July 2023
297 KB
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- Bunds made gains as the flash euro area PMIs surprised on the downside in July, signalling a steeper pace of contraction amid waning demand.
- Gilts also made gains as the flash UK PMIs similarly pointed to a marked slowing in economic recovery as higher interest rates and weaker demand started to bite.
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21 July 2023
307 KB
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- Bunds made modest gains while today’s data showed that French retail sales declined in Q2 despite modest growth in June.
- Despite an upside surprise to UK retail sales figures, Gilts ended the day higher as consumer confidence deteriorated at the start of Q3.
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21 July 2023
535 KB
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- FOMC: additional policy firming likely next week
- GDP preview: U.S. economy on growth trajectory in Q2
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20 July 2023
243 KB
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- Despite a further easing in German producer price inflation, Bunds made losses as euro area consumer confidence beat expectations.
- Gilts also followed the global trend lower on a quiet day for UK economic data.
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19 July 2023
279 KB
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- Housing starts: multi-family drops, but signs of revival in single-family activity
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19 July 2023
344 KB
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- Bunds followed USTs lower, while final euro area inflation estimates confirmed a drop in the headline rate but a slightly larger uptick in core inflation.
- Gilts made sizeable gains as UK inflation eased more than expected in July, albeit core and services inflation eased only slightly.
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18 July 2023
329 KB
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- Retail sales: pickup in June suggests modest growth in real consumer spending in Q2
- Industrial production: softening in manufacturing and mining; downside volatility in utility output
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