Market News
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Federal Reserve: September hike risk stays on table – Nordea
Nordea’s Kirsti Sunde Midttun notes that the Federal Reserve (Fed) kept its target range at 3.50–3.75%, but three hawkish dissents make the hold less comfortable than in June. With no new projections, the unchanged statement and a cautious press conference offered limited guidance.
Brazil Inflation Index/IGP-M below expectations (-1.09%) in July: Actual (-1.16%)
Brazil Inflation Index/IGP-M below expectations (-1.09%) in July: Actual (-1.16%)
United Kingdom BoE MPC Vote Rate Unchanged came in at 6 below forecasts (7)
United Kingdom BoE MPC Vote Rate Unchanged came in at 6 below forecasts (7)
United Kingdom BoE MPC Vote Rate Hike above expectations (2): Actual (3)
United Kingdom BoE MPC Vote Rate Hike above expectations (2): Actual (3)
United Kingdom BoE MPC Vote Rate Cut in line with expectations (0)
United Kingdom BoE MPC Vote Rate Cut in line with expectations (0)
United Kingdom BoE Interest Rate Decision in line with forecasts (3.75%)
United Kingdom BoE Interest Rate Decision in line with forecasts (3.75%)
British Pound: BoE policy seen on extended hold – Societe Generale
Societe Generale strategists analyzes- the Bank of England’s (BoE) upcoming meeting, expecting Bank Rate to remain at 3.75% with some hawkish dissent. They note easing inflation expectations and a loosening labour market, but also higher energy prices and government income support.
Italy Producer Price Index (MoM): 0% (June) vs -0.2%
Italy Producer Price Index (MoM): 0% (June) vs -0.2%
Italy Producer Price Index (YoY): 5.8% (June) vs previous 7.3%
Italy Producer Price Index (YoY): 5.8% (June) vs previous 7.3%
US Dollar: Post-FOMC losses likely to remain limited – TD Securities
TD Securities strategists note that the US Dollar (USD) weakened after the July Federal Open Market Committee (FOMC) rate hold and Chair Warsh’s lack of hawkish guidance.
Bank of England: Market pricing stays hawkish – ING
ING’s Michiel Tukker and Padhraic Garvey expect no change in the Bank of England (BoE) policy rate at the upcoming meeting, despite markets pricing in substantial tightening.
Italy 10-y Bond Auction increased to 4% from previous 3.63%
Italy 10-y Bond Auction increased to 4% from previous 3.63%
Italy 5-y Bond Auction climbed from previous 3.03% to 3.39%
Italy 5-y Bond Auction climbed from previous 3.03% to 3.39%