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Bland 5-Year Auction


Consumer Confidence Data Take Focus


The Japanese MOF sells Y2.0327tn 5-Year JGBs:


The Japanese MOF sells Y2.8069tn 6-Month Bills:


Inflation Data Under Scrutiny


Crude Registers Fresh Highs For The Week

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There was no let up in the surging costs for producers in Spain, with year-on-year producer inflation surging by 31.9% in October to stand more than 8 percentage points higher than September levels. The September surge leaves Spain's factory gate inflation at the highest level since records began in January 1976 and will undoubtedly make further uncomfortable reading for the European Central Bank.

All sectors added to PPI across the month, but by far the main driver was energy costs, higher by 87.3% y/y -- again the highest since the series started in 1976, according to Spanish stats agency IPRI. Intermediate goods rose 19% y/y, also an all-time high.

Spain PPI (annual %)

Source: IPRI