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21 March 2022
1032 KB
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- Political pressure and looming sanctions make European banks look towards an exit from Russia, fraught with challenges.
- Improved market sentiment encourages FIGs to access primaries with large deals and long tenors. New issue concessions remain in the double digits.
- Secondary market spreads experienced modest tightening in EUR, while central bank action provided a degree of certainty to USD markets which saw spread tightening across payment ranks.
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18 March 2022
560 KB
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- Bund made modest gains as euro area labour cost growth slows in Q4 and the goods trade balance recorded a third consecutive deficit in January.
- Gilts continued yesterday’s rally on a quiet day for UK economic data.
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18 March 2022
277 KB
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- FOMC: behind the inflation curve, but racing to catch up.
- New set of risks: war, not Covid.
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18 March 2022
751 KB
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17 March 2022
219 KB
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- Housing starts: rebound to an elevated level.
- Industrial production: firm manufacturing activity; weather-related softness at utilities.
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17 March 2022
527 KB
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- Bunds made modest losses as euro area inflation in February was revised even higher, but Lagarde reiterated near-term policy flexibility amid the uncertain outlook.
- Gilts rallied as the BoE raised Bank Rate by 25bps but flagged increased risks to the outlook and tempered its forward guidance on the likelihood of further modest tightening.
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16 March 2022
157 KB
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- Retail sales: downside noise in online activity; mixed results, but up, elsewhere.
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16 March 2022
218 KB
PDF
- FOMC: focused on inflation
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