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13 April 2023
114 KB
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- FOMC minutes: officials focused on “unacceptably high” inflation
- Officials agreed that the banking sector remained sound... but recent developments introduced a high degree of uncertainty into the outlook
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12 April 2023
160 KB
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- CPI: energy prices down; food prices flat; hints of moderation in underlying inflation
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11 April 2023
427 KB
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- While euro area retail sales extended their downtrend and a survey suggested that investors remain pessimistic about the outlook, Bunds made losses as they played catch-up with the post-payrolls moves in USTs.
- Gilts also made significant losses despite another subdued survey of UK retail sales, while the Chancellor nominated a replacement for the MPC’s uber-dove.
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6 April 2023
314 KB
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- Shorter-dated Bunds made modest losses, while German IP in February rose to its highest level since end-2020 but the construction activity PMI fell sharply in March.
- Gilts were little changed today as the UK’s construction PMIs fell more than expected in March but remained consistent with modest expansion.
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5 April 2023
324 KB
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- Bunds followed USTs higher, even as German factory orders significantly beat expectations in February and car production surged in March.
- Shorter-dated Gilts also made modest gains, while the final UK services PMI confirmed a slightly loss of recovery momentum in March.
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5 April 2023
229 KB
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- International trade: data through February suggest modest drag on Q1 growth
- ISM services index: notable softening in March, but still on growth track
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3 April 2023
246 KB
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- ISM manufacturing: fifth consecutive month of contraction
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3 April 2023
1075 KB
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- Bank of England comments on UK banking sector resilience, finds UK banks well capitalised and liquid. Elevated CRE exposures mainly found at HSBC due to large Asia lending volumes
- Major French banks investigated for potential fiscal fraud following dividend-stripping cases
- Primary market activity concentrated among SSAs and some covered bonds. DCME supports FMO in kick-starting USD market back to life.
- Secondary market spreads tightened in EUR and to a lesser degree in USD as markets digested recent banking fallout
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