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31 January 2024
344 KB
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- Employment cost index: moderation in compensation costs in Q4
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31 January 2024
291 KB
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- Bunds followed USTs sharply higher as the flash January German and French inflation estimates moderated a touch more than expected, while German retail sales fell to the lowest level since February 2021.
- Gilts also followed the global trend higher, even as the UK Nationwide house price report pointed to further stabilisation at the start of 2024.
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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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