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11 August 2023
310 KB
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- Gilts made big losses as UK GDP growth in Q2 surprised on the upside.
- Bunds followed Gilts lower on a relatively quiet day for euro area economic data.
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11 August 2023
540 KB
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- Inflation: encouraging signs in July
- Housing services: a disinflationary tailwind
- Inflation expectations: well grounded
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10 August 2023
318 KB
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- Consumer prices: moderate increases in both headline and core
- Moderating inflation data raise prospect of FOMC “skip” in September
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9 August 2023
617 KB
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- ESG bond issuance volumes in 1H23 robust despite headwinds
- Lack of transition bond activity in Europe and dwindling SLB issuance activity may be halted by updated documentation published by ICMA and European Commission recommendation
- Primary market volumes of FIGs and SSAs generally performed well, particularly traditional green bonds. Sovereign and sub-sovereign issuers could support growth in the SSA and SLB space
- Secondary market spreads and greeniums recovered and stabilised in 2Q23 after mostly short-lived shocks.
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8 August 2023
252 KB
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- Bunds made substantive gains across the curve as euro area consumer inflation expectations continued to moderate and data confirmed that the drop in German inflation in July was relatively broad-based.
- Gilts largely followed the global trend higher as another survey indicated that UK retail sales had been weak at the start of Q3.
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7 August 2023
233 KB
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- After the Bundesbank late on Friday cut its remuneration of domestic government deposits back to 0%, and as German industrial production fell more abruptly than expected in June, Bunds made gains at the short end of the curve but followed USTs lower at the longer end.
- Gilts followed USTs lower across the curve on a quiet day for UK macroeconomic data.
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4 August 2023
334 KB
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- Employment: solid pace of hiring in July; unemployment rate ticks lower
- Wage growth: brisk increase
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4 August 2023
291 KB
PDF
- Bunds largely followed USTs higher even after German factory orders figures surprised significantly on the upside.
- Gilts also made gains despite a stronger than expected UK construction sector survey.
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