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6 July 2022
447 KB
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- Bunds made gains as data for euro area retail sales and German factory orders remained consistent with a downward trend in spending on goods.
- Gilts made losses as two BoE policymakers repeated that rates might be hiked at a faster pace over coming months, while Boris Johnson’s time as Prime Minister finally appeared about to end.
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6 July 2022
224 KB
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- ISM services: moderate growth, but headwinds from labor shortages and elevated prices
- JOLTS: softer job openings and quits, but still elevated
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6 July 2022
126 KB
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- FOMC: fighting inflation and inflation expectations
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5 July 2022
458 KB
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- Bunds rallied as the final euro area services PMIs reaffirmed the impression of a loss of momentum in June, while French IP and German auto output and sales data remained subdued.
- While the UK services PMIs were revised up substantively, Gilts made gains as the BoE stated that the economic outlook has “deteriorated markedly” and UK car sales registered their weakest June since 1996.
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5 July 2022
138 KB
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- Factory orders: firm nominal advance; likely modest change in real terms
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4 July 2022
430 KB
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- Bunds made sizeable losses even as euro area PPI inflation fell for the first time in two years, Germany reported a goods trade deficit for the first time since 1991, and a survey flagged expectations of recession ahead.
- Gilts also made large losses on a quiet day for noteworthy UK economic news.
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1 July 2022
649 KB
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- While the flash estimate of euro area inflation in June exceeded expectations, Bunds rallied as the core measure declined for the first time since January and the final manufacturing PMIs hinted at a slight easing of cost pressures.
- Gilts also rallied as the final UK manufacturing PMIs were revised down to suggest the weakest output growth since the first wave of Covid-19.
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1 July 2022
153 KB
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- ISM manufacturing: slowing growth; new orders and employment below 50
- Construction: softening trends in real terms
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