EUR Market Wrap
- 2y/10y bunds closed flat/+3bp – our DM team flagging that bunds remained near intraday lows even with the BoE decision leaning dovish and in light of a higher-than-expected U.S. initial jobless claims reading.
- Main/XO closed flat as did €IG/€HY with all €IG sectors marginally in the green. No primary given European holiday.
- SXXP also closed flat with Autos -1% and Basic Resources +1%. Notable €IG movers in the European session included Tauron Polska +5%, BBVA -7%.
- Asian markets are broadly higher with the Hang Seng +2% on continued property shares strength while China mainland shares are flat on reports the US is set to impose tariffs on Chinese EVs and other strategic sectors. Stoxx 50 futures are +0.3%. Up today:
GMT/Local | Impact |
Country
Event
0600/0700
**
UK
UK Monthly GDP
0600/0700
**
UK
Trade Balance
0600/0700
***
UK
GDP First Estimate
0600/0700
**
UK
Index of Services
0600/0700
***
UK
Index of Production
0600/0700
**
UK
Output in the Construction Industry
0600/0800
**
SE
Private Sector Production m/m
0600/0800
***
NO
CPI Norway
0700/0900
EU
ECB's Cipollone presentation on digital euro
0800/1000
*
IT
Industrial Production
0845/1045
EU
ECB's Elderson in roundtable at ASVIS/ECCO
1115/1215
UK
BOE's Pill at National MPC Agency Briefing
1145/1245
UK
BOE's Dhingra remarks at KCL Econdat Conference
-
***
CN
Money Supply
-
***
CN
New Loans
-
***
CN
Social Financing
1230/0830
***
CA
Labour Force Survey
1300/0900
US
Fed Governor Michelle Bowman
1400/1000
**
US
U. Mich. Survey of Consumers
1400/1000
US
Dallas Fed's Lorie Logan
1400/1000
US
Minneapolis Fed's Neel Kashkari
1600/1200
***
US
USDA Crop Estimates - WASDE
1645/1245
US
Chicago Fed's Austan Goolsbee
1700/1300
**
US
Baker Hughes Rig Count Overview - Weekly
1730/1330
US
Fed Vice Chair Michael Barr
1800/1400
**
US
Treasury Budget