Free Trial
US TSY OPTIONS

10Y and 5Y Put Spd Update

US EURODLR FUTURES

BLOCK, Green Packs

OPTIONS

Expiries for Sep26 NY cut 1000ET (Source DTCC)

RATINGS

Several Stable Ratings Up For Review On Friday

BONDS

EGB/Gilt - Gilt/Bund spread widest since 1996

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
--UK August GfK Consumer Confidence Index -7 Vs -10 July
By Jai Lakhani
     LONDON (MNI) - UK consumer confidence recovered from June and July's
declines to return to May's level of -7, the latest GfK survey found.
     --UK CONFIDENCE DOWN PRE-BREXIT
     The rise in August's Gfk Consumer Confidence Index was driven by four of
the five components, with only the 'general economic situation over the next 12
months' measure remaining unchanged, at -26. The 'Major Purchase' Index rose by
eight points to +6, its first positive reading since May.
     Perceptions of households' personal finances over the last twelve months
were up three points to +4, whilst the sub-index measuring confidence regarding
personal finances over the next 12 months gained one point to +8. This likely
reflects the rise in earnings over the last 12 months, which appears to be
continuing steadily.
     --CONSUMERS "WAIT-AND-SEE" ON BREXIT?
     According to Joe Staton, Client Strategy Director at GfK, UK consumers may
be ignoring Brexit concerns for now. "Consumers are no doubt aware of the
incessant Brexit noise ... But are consumers putting their hands over their ears
and quietly saying 'Let's just wait-and-see'? We are just months away from the
Brexit crunch but there is no sign (yet) of any crash in consumer confidence,"
said Staton.
     --MAJOR PURCHASES STRONG
     The major purchase indicator, measuring consumers' perceptions of when is a
good time to buy items such as furniture and electrical goods, surged by eight
points to +6, significantly above the 12-month rolling average of +0.62.
However, the limitation of this measure is that it does not ask individuals if
they themselves would make major purchases now, but rather whether it is a good
time for UK consumers in general to do so.
     The UK Consumer Confidence Survey was conducted by GfK between August 1 and
August 15 on behalf of the European Commission.
--MNI London Bureau; +44 203 865 3828; email: jai.lakhani@marketnews.com
[TOPICS: MABDS$,M$B$$$,M$E$$$]

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.