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Inflationary pressures have eased in recent months thanks to reduced supply-chain frictions and the commodity market coming off the boil. Slower input cost inflation reflected an easing of pressures among both manufacturers and service providers. With staff shortages continuing gl...
The UK CPI print was the not so gentle reminder that central banks' mission is far from accomplished. Near-term direction for rates should still be up. Illiquid markets may have amplified the reaction along with its spillover into other markets. The UK curve especially can invert ...
Eyewatering increases in household energy bills between now and next April mean inflation is likely to head above 12% from October. But core inflation might have peaked - or is close to peaking - now that goods price pressures are easing. We expect another 50bp rate hike from the ...
The latest UK jobs numbers present a complicated picture for the Bank of England. Job vacancies are falling but labour supply issues remain a challenge, even if there are some encouraging signs that migration is starting to recover. We expect another 50bp rate hike in September, e...
Contracting consumer and government spending led to a small 0.1% q/q decline in the United Kingdom’s GDP in the second quarter. The main headwinds going forward are caused by sharply rising energy bills driven by soaring gas prices. The UK stock market outperformed European...
While the interest rate-sensitive housing sector may still feel the squeeze, we note that activity is at historically strong levels. Existing home sales have come off a bit more. They are expected to have fallen for the sixth consecutive month in July. While the housing market is ...
July was the highest revenue generating month of 2022. The US hard to borrow equity market pushes revenues higher. Fixed income continues to see strong demand. Corporate bonds are in for an impressive 2022. Global securities finance revenues totalled $1.215 bln, ...
After months of battering, global equity markets enjoyed a reprieve in July, lifted by hopes that worsening economic signals and falling commodity prices might give central banks, led by the Fed, some leeway to dial back their tightening campaigns. Despite their recent outperformance,...
Rising price pressures, stronger and more persistent than generally expected, has been the main challenge for consumers, businesses, and policymakers. The Bank of Japan's balance sheet is nearly 135% of GDP. The Fed's balance sheet is about 36.5% of GDP. Last week, the Bank of Eng...
U.S. crushes expectations, adds 528,000 jobs in July. Bank of England announces largest rate hike since 1995. Q2 earnings season update. On the latest edition of Market Week in Review, Chief Investment Strategist Erik Ristuben discussed the U.S. July jobs report, the lat...