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11 January 2024
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- CPI: brisk increase in core driven by pressure in service inflation
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9 January 2024
310 KB
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- While German industrial output dropped to its lowest level since the first Covid-19 lockdown, Bunds made losses as the euro area unemployment rate fell back to match its record low.
- Gilts also made losses even as a survey suggested that UK retail sales declined back at the end of last year.
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8 January 2024
301 KB
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- Despite a pickup in German exports and a stronger-than-expected euro area sentiment survey, Bunds made gains as German factory orders and euro area retail sales remained weak.
- Gilts also made gains as a survey reported a continued softening in UK labour market conditions.
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5 January 2024
361 KB
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- While euro area core inflation fell further and German retail sales dropped sharply, Bunds made losses as euro area headline inflation in December reversed the prior month’s drop.
- Gilts also made losses despite a weak UK construction sector survey.
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5 January 2024
575 KB
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- December employment: solid payroll print, with caveats; brisk earnings growth; concerns with household data
- ISM services: still indicating growth, but a concerning drop in the employment component
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4 January 2024
343 KB
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- While core inflation maintained its downtrend, Bunds made significant losses as the flash estimates of headline German inflation in December rose sharply due to a temporary energy base effect.
- Gilts also made losses as a UK survey signalled a pickup in wage expectations while the final December PMIs were revised up to signal a modest pickup in GDP in Q4.
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3 January 2024
118 KB
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- FOMC minutes: monetary policy currently restrictive; “almost all” participants anticipate a lower federal funds rate in 2024
- The economic outlook: inflation risks tilted to the upside; growth risks to the downside
- Quantitative tightening: possible end in sight
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2 January 2024
315 KB
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- Bunds made losses as euro area bank lending ticked up and the final December manufacturing PMIs were revised up slightly.
- Gilts also made losses despite downward revisions to the UK manufacturing PMIs and a relatively subdued shop price survey.
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