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1 February 2022
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- Despite a steep decline in German retail sales, Bunds made losses as the euro area unemployment rate fell to a series low and French inflation exceeded expectations.
- Shorter-dated Gilts made losses as UK house prices accelerated while UK mortgage approvals and consumer credit picked up.
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1 February 2022
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- ISM manufacturing: cooling off, but still hot
- Job openings: still sky high
- Construction: modest increase led by housing
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31 January 2022
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- FOMC: behind the curve, but ready to move aggressively.
- Inflation developments: more pressure on both prices and wages.
- U.S. economy: slowdown in Q1 after a brisk Q4.
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31 January 2022
478 KB
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- Bunds made notable losses as German inflation significantly exceeded expectations. BTPs outperformed after Italian President Mattarella was re-appointed for a second term to enable Draghi to remain as Prime Minister.
- As the “Party-gate” political saga appeared set to drag on with little near-term consequence, Gilts also made losses, while a UK survey suggested that business sentiment was stable despite omicron and price concerns.
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28 January 2022
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- Bunds made modest losses even as data confirmed a contraction in German GDP in Q4 and the Commission’s economic sentiment indicator deteriorated more than expected.
- Gilts also made modest losses at the long end of the curve on a quiet end to the week for UK economic news.
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27 January 2022
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- Q4 U.S. GDP: surge led by inventory investment; consumption also supportive.
- Durable goods orders: down-side volatility in aircraft; moderate results elsewhere.
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27 January 2022
545 KB
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- Following overnight moves in USTs, Bunds made losses while German consumer confidence was broadly stable.
- Gilts also made losses despite downbeat surveys of UK retail sales and business turnover.
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26 January 2022
220 KB
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- International trade in goods: import surge outweighs firm exports.
- New home sales: surge in December suggests revival.
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