Markets Horrible European PMI business confidence (September) triggered a textbook bull steepening. German rates dropped between -2.8 (30-yr) and -8.1 (2-yr) bps. The spread between the 10-yr and 2-yr hit a milestone by turning positive for the first time since November 2022. Swaps did so already last Friday. Front-end outperformance rooted from increased ECB easing […]
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Germany’s Ifo Business Climate Index dropped from 86.6 to 85.4 in September, falling below market expectations of 86.1. This decline signals rising concerns for the German economy as key sectors show signs of strain. Current Read more…
In a speech today, BoJ Governor emphasized that the central bank will need to thoroughly assess factors such as financial and capital market developments both domestically and internationally, as well as the broader global economic Read more…
RBA remains on hold at 4.35% as expected. The Board remains vigilant to upside risks to inflation and wants to return it to target sustainably, not just briefly. As expected, the RBA remained on hold Read more…