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8 July 2021
429 KB
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- Bunds made modest gains as the ECB set a symmetric 2% medium-term inflation target and failed to mimic the Fed’s overshooting strategy.
- Gilts made losses at the short end as surveys pointed to significant momentum in the UK labour market but a likely moderation ahead in the housing market.
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7 July 2021
358 KB
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- Bunds made gains as data reported a drop in German manufacturing due to a plunge in autos output, while the French government flagged concerns of a new fourth wave of Covid-19 caused by the delta variant.
- Gilts also made gains on a quiet day for economic news from the UK.
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7 July 2021
113 KB
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- FOMC minutes: little insight into prospects for tapering.
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6 July 2021
426 KB
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- Bunds followed USTs notably higher while German factory orders data disappointed but euro area retail sales rebounded sharply in May.
- Gilts similarly made gains despite an upside surprise to the UK construction PMI, which signalled the strongest growth in the sector for 24 years.
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6 July 2021
153 KB
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- ISM services: softer than expected, but still firm
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5 July 2021
427 KB
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- Bunds made modest losses as the final euro area services PMIs were revised higher, but German auto production and French IP were hit by supply bottlenecks.
- Longer-dated Gilts also made modest losses as the UK Government was set to ease its pandemic restrictions further, the UK services PMI was upwardly revised, but car registrations figures suggested a slow recovery.
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2 July 2021
563 KB
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- While euro area producer price inflation rose to a record high and Spanish unemployment fell the most on record, Bunds made gains as ECB President Lagarde noted downside risks posed by Covid-19’s delta variant.
- Gilts also made gains on a quiet end to the week for UK economic news.
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2 July 2021
318 KB
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- The labour market: lagging by some measures, robust by others
- Inflation risks: supply-chain disruptions remain an issue
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