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20 June 2022
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- According to EBA data, FIG issuers still have MREL shortfalls to contend with. Paired with volatile market conditions and spread widening, this may impact issuance strategies over coming quarters
- Primary market issuers mostly stayed away from markets over the past week as they digested monetary policy decisions by the ECB, Fed, SNB and BoE
- Secondary market spreads and CDS price indicators continued to go wider across EUR and USD
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17 June 2022
552 KB
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- While May’s series high for euro area inflation was confirmed, Bunds made gains and BTPs continued to outperform following reports that the ECB Governing Council will discuss proposals for its new anti-fragmentation tool as soon as July.
- Shorter-dated Gilts followed USTs lower on a quiet day for economic news from the UK.
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17 June 2022
295 KB
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- Chair Powell: “strongly committed to bringing inflation back down”…
- … and “moving expeditiously to do so.”
- But also raising the probability of recession
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16 June 2022
142 KB
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- Housing starts: sharp slowing in new construction
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16 June 2022
371 KB
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- Gilts sold off, particularly at the short end of the curve, as the BoE raised Bank Rate by 25bps but signalled the possibility of bigger rate hikes ahead.
- Most euro area government bonds followed Gilts lower as euro area labour costs accelerated, although BTPs made further gains in the aftermath of yesterday’s ECB announcement of plans for a new anti-fragmentation tool.
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15 June 2022
442 KB
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- Euro area govvies rallied hard, with BTPs significantly outperforming, as the ECB responded to the recent bond-market sell-off by announcing that it would start work on a new anti-fragmentation tool.
- Gilts followed euro govvies higher on a quiet day for UK economic news.
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15 June 2022
150 KB
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- Retail sales: price led jump in gasoline sales; restrained spending elsewhere
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15 June 2022
218 KB
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- FOMC: headed toward restrictive policy...
- ...and hopeful for a softish landing
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