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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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24 March 2023
340 KB
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- Bunds rallied further despite an upside surprise to the flash euro area PMIs, which implied an acceleration in services activity in March.
- Gilts also made gains even as UK retail sales significantly beat expectations and the flash PMIs remained consistent with expansion in the services sector.
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24 March 2023
154 KB
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- Durable goods orders: downside volatility in aircraft orders; flat bookings ex. transportation
- Shipments of nondefense capital goods ex. aircraft suggest a soft quarter for capital spending
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24 March 2023
281 KB
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- Credit flows: a new focus for market participants
- A farewell note
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