THAILAND: Constitutional Court Gives Suspended PM Until Aug 4 To File Defence
The Constitutional Court granted suspended Prime Minister Paetongtarn Shinawatra a 'final extension'...
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
GERMAN DATA: May Retail Sales Underscore Disappointing Consumer Sector
German May Retail Sales came in at -1.6% M/M (real, seasonally-adjusted) underperforming vs consensus of -0.5%, even considering a 0.5pp upward revision to the April data (to -0.6% M/M; 0.2pp of that revision was already known). On a 3m/3m comparison, retail sales printed +0.3% in May - underscoring that on a broader view, since mid-2024, retail sales have seen no gains in Germany.
- Sentiment in the consumer sector has been lagging recent upticks in the business sector - the GfK consumer climate continues to print well in negative territory, at around -20 for a couple of months now, so the outlook here remains subdued.
- Looking at the individual categories, May's decrease appears broad-based, with food sales down 1.3% M/M, and non-food sales down 2.2%.
STIR: J.P.Morgan Recommend Buying SFRU5 95.875 Puts Vs. ERU5 98.125 Puts
Late on Friday J.P.Morgan recommended buying SFRU5 95.875 puts vs. ERU5 98.125 puts, given their view on risks surrounding ECB and Fed pricing, while they are also wary of upside surprises in this week’s U.S. labour market data.
CROSS ASSET: MONTH END EXTENSIONS
Bond extensions are small for this Month.
Bloomberg Bonds:
- US Tsys: +0.07yr (small).
- EU Govies: +0.06yr (small).
- UK Govies: -0.04yr (non event).
MS Bonds:
- US Tsys: +0.04yr (small).
- EU Govies: +0.05yr (small).
- UK Govies: -0.03yr (non event).
Barclays FX:
- They see moderate USD selling vs most Majors, weaker against the EUR.
CITI FX:
- They see moderate USD selling, but weaker signal vs the GBP.
BofA FX:
- They see rebalancing flows into the USD and GBP.
