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BTP TECHS

(M1) Needle Points South

GILT TECHS

(M1) Corrective Gains

SCHATZ TECHS

(M1) Resistance Remains Intact

BOBL TECHS

(M1) Remains Below The 50-day EMA

BUND TECHS

(M1) Trading Closer To The Week's Highs

CHINA RATES

China Repo Rates Decline: Wind

Record Decline For EZ Economy

EUROZONE DATA
MNI (London)

EZ FLASH Q2 GDP -12.1% Q/Q SA, -15.0% Y/Y WDA

EZ Q2 GDP FCAST -12.0% Q/Q, -14.5% Y/Y; Q1 -3.6% Q/Q, -3.1% Y/Y

  • The EZ economy registered another record decline in Q2, plunging by 12.1% q/q, slightly below market expectations.
  • The annual rate plummeted by 15.0% after falling by 3.1% in Q1
  • Both the quarterly and the annual rate in Q1 are unrevised
  • These were the sharpest declines ever recorded since the series began in 1995
  • Among the member states for which data is available, Spain (-18.5%), Portugal (-14.1%) and France (-13.8%) showed the largest contractions.
  • Non of the EZ member states posted a quarterly gain - Lithuania (-5.1%) and Latvia (-7.5%) recorded the lowest drops
  • Eurostat notes that country coverage was not affected by the Covid-19 crisis.
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com