ISRAEL: BoI Point to Risks for a Possible Acceleration of Inflation
Aug-20 13:04
Highlights from the policy statement: * In the Committee's assessment, there are several risks for ...
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EQUITIES: Some Selling Creeping In
Jul-21 13:02
Downside In equites as Euro Stoxx 50 futures retest session lows and e-minis edge further away from session highs. No clear driver once again, maybe some looking more closely at the reports of increased hawkishness in EU-U.S. trade relations as we move towards the NY cash open, but the latest moves are modest in the grander scheme of things.
FRANCE T-BILL AUCTION RESULTS: 14/21/25/51-week BTF auction results
Jul-21 12:56
| Type | 14-week BTF | 21-week BTF | 25-week BTF | 51-week BTF |
| Maturity | Oct 29, 2025 | Dec 17, 2025 | Jan 14, 2026 | Jul 15, 2026 |
| Amount | E3.099bln | E500mln | E1.598bln | E1.998bln |
| Target | E2.7-3.1bln | E0.1-0.5bln | E1.2-1.6bln | E1.6-2.0bln |
| Previous | E3.099bln | E599mln | E1.799bln | E1.898bln |
| Avg yield | 1.938% | 1.916% | 1.935% | 1.902% |
| Previous | 1.940% | 1.925% | 1.925% | 1.914% |
| Bid-to-cover | 3.13x | 5.05x | 2.78x | 2.78x |
| Previous | 2.54x | 5.94x | 2.49x | 3.07x |
| Previous date | Jul 15, 2025 | Jun 30, 2025 | Jul 15, 2025 | Jul 15, 2025 |
UK: Week Ahead (2/2)
Jul-21 12:51
- We will also be watching this week to see whether the dates of the Autumn Budget is announced. We think that 5 November is the most likely date but we think that there is a chance it comes the preceding week on 29 October, see UK FISCAL: When could the UK Budget Be, 3 July.
- Pensions have continued to remain in the news after the government revived the Pensions Commission with the pension age to again be put under review but it is also likely that auto enrolment and employers’ contributions will make it on to the agenda again in coming months; there was talk that this would appear in the Chancellor’s Mansion House speech but that was not the case in the end.
- Today also sees the BOE conduct a long-dated APF operation. This will be watched closely as the first long-dated APF operation since January (after the April maturity was switched) and will be seen as the strongest gauge of long-end demand in some time.
