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31 March 2023
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- Bunds made gains as the flash March estimate of euro area inflation fell further than expected and the latest German retail sales and jobless claims data were softer than anticipated.
- Gilts were little changed as UK GDP in Q4 was revised up slightly but house prices marked their sharpest annual decline since 2009.
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31 March 2023
341 KB
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- PCE Inflation: hints of improvement in February
- Consumer spending: firm pace of outlays suggests solid performance for Q1 GDP
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30 March 2023
172 KB
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- Revised GDP: modest downward adjustment led by consumer spending
- Corporate profits: some softening in Q4, but still-strong post-pandemic performance
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30 March 2023
295 KB
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- Bunds made losses as flash estimates published by several member states suggested that euro area headline inflation did not fall quite as far as expected in March while core inflation might well have increased further.
- Gilts followed Bunds lower on a quiet day for UK economic news.
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29 March 2023
485 KB
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- Bunds made modest losses as German consumer confidence rose for the sixth consecutive month, even after Lane suggested that wage growth was not yet showing signs of overshooting the ECB’s projections.
- Shorter-dated Gilts made modest losses even as data signalled a sharp slowdown in UK mortgage lending.
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28 March 2023
150 KB
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- International trade: both exports and imports contract in February
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27 March 2023
1093 KB
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- Lower securities exposure and higher cash balances limit contagion risk for European banks, while Swiss regulator seeks to clarify steps taken in Credit Suisse intervention
- Market volatility surrounding Deutsche Bank not deemed justified given its recent clean-up act
- Primary market activity almost reduced to zero as issuers avoided adverse funding conditions while awaiting monetary policy decisions by the Fed and BoE. Secondary market spreads tightened in EUR and to a lesser degree in USD following regulatory assurances in Europe and the U.S.
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27 March 2023
425 KB
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- Bunds followed the global trend lower, while the German ifo survey signalled an improved recovery momentum, but euro area bank lending numbers reported a record decline in M1 money supply.
- Gilts also made losses while a UK retail survey signalled signs of resilience at the end of the first quarter.
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