Quiet session ahead of US CPI data and EU planned Brexit concessions
- UK Monthly GDP data saw the economy grew less than expected in August as consumers reined in spending. - German Sept Final CPI unrevised but confirm
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- UK Monthly GDP data saw the economy grew less than expected in August as consumers reined in spending. - German Sept Final CPI unrevised but confirm
Stephen Guilfoyle in his Market Recon column assess whether we're in a period of inflation, deflation or stagflation, dismisses the chances of reaching an infrastructure deal, chews on Chewy (CHWY) and looks at the unnatural reaction to higher consumer prices of the yield curve and equity markets....XLF
6/10/2021 9:29:30 AM GMT Notes/Observations - Focus on US may CPI data with YoY expected to accelerate to 4.7%; Fed had been unified that inflation pressures were transitory. - ECB expected to maintain its pandemic bond-buying program pace. - ECB Staff Projections long-term inflation forecasts may well remain below the current ECB inflation objective. - Various Nordic May inflation data eased from month-ago levels (Norway and Sweden both missed YoY consensus). Asia: - China PBOC Gov Yi Gang stated that he saw 2021 CPI under 2.0% (Note: compares to 3.0% official target) and expected China GDP ...
- (DK) - (SE) - (UK) DMO sold £2.5B in 0.625% July 2035 Gilts; Avg Yield: 1.105% v 1.179% prior; bid-to-cover: 2.46x v 2.64x prior; Tail: 0.2bps v 0.1bps prior. Looking Ahead - 05:20 (EU) Daily ECB Liquidity Stats. - - 05:30 (PT) Portugal Debt Agency (IGCP) to sell €1.0-1.25B in 3-month and 12-month Bills. - 06:30 (UK) BOE Gov Bailey. - 05:30 (ZA) South Africa announces details of next bond auction (held on Tuesdays). - 06:00 (CZ) Czech Republic to sell 2024, 2032 bonds. - 06:45 (US) Daily Libor Fixing. - 07:00 (RU) Russia OFZ Bond auction (if any). - 07:00 (US) MBA Mortgage Application...
Not Another Manic Monday, Bond Bidding, Coinbase Excitement, Semiconductor Wars: Market Recon...FAST