The Bank of England is out with its annual report and it contains comments from MPC members Clare Lombardelli and Alan Taylor. They highlight the differing vies on the path of policy as the market prices in about a 35% chance of a 25 bps cut this year. Lombardelli I’m not confident that if we … Read more
Headlines: Markets: AUD leads, JPY lags on the day European equities higher; S&P 500 futures up 0.5% US 10-year yields down 0.4 bps to 4.273% Gold up 0.4% to $3,547.16 WTI crude down 2.0% to $64.29 Bitcoin up 0.1% to $111,560 After the global bond rout triggered a bit of a scare in broader markets … Read more
Market index 272.5 vs 275.8 prior Purchase index 158.7 vs 163.8 prior Refinance index 902.5 vs 894.1 prior 30-year mortgage rate 6.64% vs 6.69% prior This is never a market moving release. Mortgage applications are generally inversely correlated to mortgage rates. This article was written by Giuseppe Dellamotta at investinglive.com. fbs.mobi
Introduction American warships are already off the coast of Venezuela. Trump speaks of narcotrafficking, but is that really the whole story? Let’s break down what’s behind these maneuvers — and why oil is once again carrying a risk premium. Why Venezuela? Venezuela holds the world’s largest proven oil reserves — more than 300 billion barrels, … Read more
Slight delay in the release by the source. The rest of the other German state readings released around the same time: North Rhine Westphalia CPI +2.0% vs +1.8% y/y prior Saxony CPI +2.2% vs +1.9% y/y prior Baden Wuerttemberg CPI +2.5% vs +2.3% y/y prior The readings are firmer across the board, as price pressures … Read more
The table below highlights the inflation expectations, with the year-ahead response being unchanged at 2.6%: Overall, that’s still much higher than the ECB target of 2%. So, there’s definitely caution to be had as the fall in inflation expectations begin to hit a bit of a floor for now. In terms of the qualitative response, … Read more
Prior +1.7% HICP +1.7% vs +1.8% y/y expected Prior +1.7% Slight delay in the release by the source. Core annual inflation is seen accelerating a little to 2.1%, up from 2.0% in July. So, that will just play into the narrative of the ECB wanting to keep in pause mode for now. This article was … Read more
Headlines: Markets: USD leads, GBP lags on the day European equities lower; S&P 500 futures down 0.3% US 10-year yields up 1.8 bps to 4.225% Gold down 0.3% to $3,405.82 WTI crude down 0.4% to $64.35 Bitcoin down 1.6% to $110,106 There wasn’t too much action on the session as markets are looking to wrap … Read more
We have a pretty tranquil session ahead in terms of data releases. The main highlights are the US PCE report for July and the Canadian GDP. The Core PCE is expected at 2.9% Y/Y and 0.3% M/M. Unless we get notable deviations, I don’t expect the market to react to it too much given that … Read more
Prior 2.8% Core PCE M/M 0.3% vs 0.3% expected Prior 0.3% Headline PCE: PCE Y/Y 2.6% vs 2.6% expected Prior 2.6% PCE M/M 0.2% vs 0.2% expected Prior 0.3% Income/Spending: Personal income M/M 0.4% vs 0.4% expected Prior 0.3% Personal spending M/M 0.5% vs 0.5% expected 0.3% prior (revised to 0.4%) Minimal reaction in the … Read more
