EZ PMI: Help From Manufacturing
· The headlines look reasonable, with the highlight being the August EZ Manufacturing PMI at 52.8 versus consensus…
DM Central Banks Watching Stablecoins
· Overall, DM central banks have a watching brief for stablecoins and the scale of growth in the…
DM Government Bonds: Risks of Higher Long End Premia?
· Our baseline is for DM government bond yields ex Japan to remain elevated, but controlled. Japan extra…
ECB April 30 Account: Not Willing to Look Through Energy Sho
The Account of the April 30 ECB meeting offers few added clues with comments from Council member since…
Europe: Anti-Immigration Vs More Negative Demographics
A significant demographic tremor is gaining speed and breadth – globally. Just as politics – certainly in the…
ECB: Not the Only Game in Town
When hearing ECB Council policy thinking one can get the impression that it sees only a direct link…
ECB Preview (Apr 30): Real Economy Buckling Already!
We again expect no change from the ECB on Apr 30, but President Lagarde will probably have to…
ECB Too Focused on Services Inflati
Having dropped to 1.7% in the January data, thereby matching expectations and the short-lived Sep 24 outcome, it…
GBP: Foreign Investor Flows
· Inbound inflows into the UK have been solid in the last few years attracted by yield pick-up…