Highlights - 9th September 2022

SWEDEN: Preview Published Ahead Of 11 September Election

• In this election preview we will provide a short explainer of the electoral system, the main parties contesting the vote, an opinion polling chart-pack, a scenario analysis of potential election outcomes with probabilities, and an expected timeline of the contest.
• https://roar-assets-auto.rbl.ms/documents/18299/MN...

CANADA: Bearish Jobs Print As Unemployment Rate Jumps

• A net bearish jobs print sees USDCAD climb 30 pips and notable GoC outperformance to Tsys (2YY -8.5bps vs -2.5bps Tsys). A big miss for employment in August (-39.7k vs +15k consensus) and with no revisions to offset a cumulative -74k from the prior two months, was amplified by full-time jobs falling -77k for -90k in two months, almost 0.5% of the workforce.
• https://marketnews.com/bearish-jobs-print-as-unemp...

CHINA: Annual Liquidity Continues To Rise, But Not Enough To Levitate Domestic Risky Assets

• Even though a recovery in liquidity has historically had a positive impact on domestic risky assets and some China-sensitive commodities (i.e. copper) or currencies (i.e. AUD), the easing conditions (policy and liquidity) have been barely enough to limit the downside risk on the real economy.
• https://marketnews.com/aggregate-financing-signifi...

MNI ECB Review: ECB Front Loads

• It is clear that the ECB has fallen in line behind the hawks on the GC. Moreover, Lagarde indicated that support for a 75bp hike was unanimous, indicating that the dovish voices previously calling for a gradual approach, must now also be concerned by the scale of the recent inflationary surge.
• https://roar-assets-auto.rbl.ms/documents/18288/EC...