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27 July 2022
492 KB
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- Despite downbeat consumer confidence surveys from Germany, France and Italy, Bunds made losses and spreads to BTPs widened as a rating agency lowered Italy’s sovereign rating outlook to stable from positive on recent political developments.
- Gilts also made losses as a UK survey saw shop price inflation jump to a series high in July.
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27 July 2022
221 KB
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- Durable goods: jump in defense aircraft orders boosts headline
- International trade in goods: firm exports, a correction in imports
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27 July 2022
195 KB
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- FOMC: no surprise with 75; further increases likely, but no specific guidance
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26 July 2022
1169 KB
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- In Europe, green bonds and SLBs help ESG market return to growth in 2Q22
- European energy policy could spur further growth of sustainable bonds. European Union firmly established as top-tier Euro issuer but pricing gap to Bunds widens year-on-year
- Negotiations over vital features of EU Green Bond Standard enter endgame
- Ongoing market volatility has led to further spread widening in both primary and secondary markets. Greenium likely to persist despite spread convergence to conventional bonds
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26 July 2022
156 KB
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- New home sales: constrained by a drop in affordability
- Consumer confidence: inflation, interest rates, recession worries dampened moods
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25 July 2022
407 KB
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- Bunds had a mixed performance as a downbeat German ifo business survey suggested that the economy was on the ‘cusp of a recession’ and concerns rose that Russia would temporarily curb gas flows to Germany from Wednesday.
- Gilts made modest gains as a UK survey signalled a marked slowdown in manufacturing output and orders.
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22 July 2022
643 KB
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- Bunds and other euro area government bonds rallied as the flash euro area PMIs for July flagged recession risks.
- While the UK flash PMIs were not as weak as their euro area counterparts, Gilts also rallied as UK retail sales fell for a fourth successive quarter in Q2.
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22 July 2022
590 KB
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- FOMC: good progress toward its near-term objective...
- ...financial conditions have tightened and the economy is slowing
- GDP preview: weak results in Q2, but it’s not a recession (yet)
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