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30 January 2024
315 KB
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- Bunds made losses as euro area GDP narrowly avoided a second successive quarterly contraction in Q4 and the Commission survey suggested a pickup in inflation expectations in January.
- Gilts also made losses despite a sharp drop in a UK survey measure of inflation in January.
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26 January 2024
366 KB
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- Despite a sharp deterioration in German consumer confidence, Bunds followed USTs lower as euro area bank lending picked up slightly.
- Gilts made gains despite an improvement in UK consumer confidence to a two-year high.
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26 January 2024
512 KB
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- FOMC: on hold next week
- QT update: taper unlikely in near term, but possible update in coming months
- Inflation: significant progress, but further slowing required
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25 January 2024
286 KB
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- Bunds rallied as the ECB’s policy statement had a dovish tone and President Lagarde refused to rule out a rate cut in April, while the latest ifo survey signalled a deterioration in German business conditions.
- Gilts also made gains as a survey suggested that UK retail sales were extremely weak in January.
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25 January 2024
291 KB
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- Q4 GDP: firm growth led by brisk consumer spending
- Inflation: tame readings on the GDP and PCE price indexes
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24 January 2024
313 KB
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- While the euro area flash PMIs reported a slight easing of the economic downturn and a pickup in service sector cost pressures, Bunds made modest gains as the German and French surveys suggested a deterioration in momentum.
- Gilts made relatively modest losses as the UK flash PMIs pointed to a pickup in growth momentum at the start of the year.
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23 January 2024
285 KB
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- Despite an unexpected drop in euro area consumer confidence, Bunds made losses as the ECB’s Q4 Bank Lending Survey suggested that credit standards tightened only moderately further and loan demand declined at a softer pace than in Q3.
- Gilts also made losses as the latest UK public finances data underscored the likelihood that substantive tax cuts will be announced in March.
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19 January 2024
308 KB
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- Shorter-dated Bunds followed USTs lower, even as German industrial producer prices fell again.
- Gilts ended little changed on the day at the short end of the curve but made gains at the long end as UK retail sales fell at the sharpest rate since pandemic restrictions were imposed at the start of 2021.
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