Summary The U.K.’s April CPI data surprised to the upside, with headline inflation and energy prices receding less than expected. Perhaps even more importantly, for now underlying price pressures still appear to be intensifying as both core inflation and services inflation quickened. In our view, elevated wage growth should keep underlying inflation trends elevated in […]
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Markets US December CPI numbers avoided a feared acceleration and triggered a cross-asset relief move. The big reaction was more about repositioning rather than the actual data. Headline CPI (0.4% M/M, 2.9% Y/Y) was in Read more…
Yesterday offered an almost ideal news flow for global investors. First, the British inflation came in softer than expected. The most-watched services inflation eased from 5% to 4.4% last month, to the lowest since March Read more…
In focus today From the US, initial jobless claims and retail sales will provide markets with evidence of the health of US consumers and unemployment. For initial jobless claims consensus expects an increase of 210k Read more…