EUROPEAN INFLATION: ECB Data Suggests Broad Message of Jun Flash Release Intact
Jul-17 13:03
Taking into account the ECB's underlying inflation metrics and updated ECB seasonally adjusted data,...
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CANADA DATA: Biggest Foreign Divestment Of Canadian Bonds Since 2018
Jun-17 13:00
- Foreign investors sold Canadian CAD9.4B Canadian securities in April, including CAD25.1b of bonds that was the largest divestment since Dec 2018. Bond decline largely due to debt retirements.
- Canadian investors purchased CAD4.1B of foreign securities in April.
YTD foreign investment in Canadian securities from Jan to April -CAD15.1B vs +CAD64.3B over the same period last year.
STIR: Small Hawkish Fed Repricing As Ctrl Group Outweighs Headline Retail Sales
Jun-17 12:59
Initial dovish market readthrough from the softer-than-expected headline retail sales data & negative revisions is more than countered by the firmer-than-expected retail sales control group reading (and positive revision) and firmer-than-expected import prices (which will have been influenced by the weaker USD).
- That leaves Fed Funds pricing 0bp of cuts for this month, 3bp through July, 18bp through September, 31.5bp through October and 48bp through December.
- This compares to 0bp, 3.5bp, 19.5bp, 32.5bp and 49.5bp ahead of the release.
- SOFR implied terminal rate pricing (SFRZ6) stands at 3.30% vs. 3.29% ahead of the data. Contract sticks comfortably within the 3.165-3.500% implied rate range in play since May 9.
MNI: US REDBOOK: JUN STORE SALES +5.0% V YR AGO MO
Jun-17 12:55
- MNI: US REDBOOK: JUN STORE SALES +5.0% V YR AGO MO
- US REDBOOK: STORE SALES +5.2% WK ENDED JUN 14 V YR AGO WK
