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13 January 2023
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- Consumer prices: some encouraging news, but still some concerns
- Probably a slower pace of tightening, but the Fed is most likely not done
- The outlook for rents: favorable (maybe)
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12 January 2023
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- Headline CPI: weak energy prices, cooling in the food component
- Core CPI: soft goods prices, rent-led advance in service prices
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10 January 2023
496 KB
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- Bunds made losses as ECB Executive Board hawk Schnabel suggested interest rates will need to rise significantly to be sufficiently restrictive to return inflation back to target.
- Gilts also made modest losses as a retail sales survey implied a better end to the year for UK retailers, but a separate survey suggested a significant softening in the labour market.
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9 January 2023
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- Bunds made losses as euro area unemployment numbers suggested ongoing resilience in the labour market, while German IP posted modest growth as energy-intensive output stabilised.
- Gilts underperformed as BoE Chief Economist Pill flagged his concerns about potential risks of persisting inflationary pressures.
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6 January 2023
627 KB
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- Euro area govvies followed USTs higher as euro area headline inflation fell to a four-month low, the Commission’s price expectations indices moderated and German factory orders plunged.
- Gilts also made large gains as the UK construction PMIs signalled the steepest contraction in the sector since May 2020.
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6 January 2023
200 KB
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- Employment: solid payroll growth; drop in unemployment rate
- Growth of average earnings slows from brisk underlying average
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6 January 2023
220 KB
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- ISM services: signaling contraction; led by a plunge in new orders
- Factory orders: softness in manufacturing
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6 January 2023
394 KB
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- The U.S. labour market: hints of softening, but still tight
- The U.S. economy: on track (for now)
- Doubts regarding a 2023 Fed pivot
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