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EMERGING MARKETS: Global news: September 11

EMERGING MARKETS
  • US (MNI) – Consensus sees core CPI at 0.2% m/m in August after a slightly softer than expected 0.165% m/m in July. Headline CPI is primed for a ‘low’ 0.2% m/m reading but note an almost even split between 2.5/2.6% y/y reading which could easily drive what appears a beat for the 2.5 Bloomberg consensus. We expect rental inflation and especially the smaller weighted primary tenants’ rent category to play a particularly big role this month, with analysts looking for an almost full reversal of last month’s surprise strength. We feel there could be some upside risk here.
  • US (MNI) – The debate between Vice President and Democratic nominee Kamala Harris and Republican candidate former President Donald Trump did not deliver any knockout blows or election-defining moments. What this debate did do was move the needle of the election in Harris' direction after a period in which the finely balanced election contest had been shifting back to Trump.
  • UKRAINE (MNI) – A number of media reports suggest that US President Biden could lift his administration's ban on Ukraine firing Western-made long-range missiles at military targets in the Russian Federation. The report comes as UK PM Sir Keir Starmer, who is believed to favour a lifting of the ban, is set to visit the White House on 13 September. At a presser in London yesterday, US Secretary of State Antony Blinken said, when asked about lifting the ban, that Biden was “not ruling it out”.

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