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19 April 2023
519 KB
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- Bunds made losses while the rise in euro area core inflation in March was confirmed and data also suggested that construction activity provided a boost to euro area GDP in Q1.
- Gilts made much bigger losses as, contrary to expectations, UK CPI inflation remained in double-digits and core inflation failed to fall.
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18 April 2023
265 KB
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- Shorter-dated Bunds made modest gains even as the German ZEW survey suggested that investors were more downbeat regarding the outlook.
- Despite a rise in the UK unemployment rate, and further declines in inactivity and vacancies, Gilts made losses as pay growth exceeded expectations.
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18 April 2023
157 KB
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- Housing starts: multi-family building eased but remained elevated; single-family activity rose modestly
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14 April 2023
341 KB
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- CPI: hints of moderation, but still insufficient to meet price stability mandate
- Inflation data, and comments by Fed officials, suggest no near-term pivot
- Friday data: retail sales & industrial production ease
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13 April 2023
651 KB
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- Gilts were little changed, while UK GDP failed to grow in February as strikes hit public services and factory output remained subdued.
- Bunds were also little changed as a Reuters report suggested that ECB policymakers are “converging” on a 25bps rate hike in May while euro area IP data for February beat expectations and the rise in German core inflation in March was confirmed.
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13 April 2023
114 KB
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- FOMC minutes: officials focused on “unacceptably high” inflation
- Officials agreed that the banking sector remained sound... but recent developments introduced a high degree of uncertainty into the outlook
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12 April 2023
160 KB
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- CPI: energy prices down; food prices flat; hints of moderation in underlying inflation
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11 April 2023
427 KB
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- While euro area retail sales extended their downtrend and a survey suggested that investors remain pessimistic about the outlook, Bunds made losses as they played catch-up with the post-payrolls moves in USTs.
- Gilts also made significant losses despite another subdued survey of UK retail sales, while the Chancellor nominated a replacement for the MPC’s uber-dove.
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