LOOK AHEAD: Eurozone Timeline of Key Events (Times BST)

Sep-11 05:18
DateTimeCountryEvent
11-Sep1315EUECB Rate Decision
11-Sep1345EUECB Press Conference
11-Sep1515EUECB Lagarde Presents Rate Decision on ECB Podcast
12-Sep0700DEGermany CPI (f)
12-Sep0745FRHICP (f)
12-Sep0800ESHICP (f)
12-Sep1000EULabour Market Quarterly Statistics
15-Sep1000EUTrade Balance
15-Sep1910EUECB Lagarde at Institut Montaigne Paris
16-Sep0900ITHICP (f)
16-Sep1000DEZEW Current Expectations Index
16-Sep1000EUEZ Industrial Production
17-Sep0830EUECB Lagarde at ECB Annual Research Conference
17-Sep1000EUEZ HICP Final
17-Sep1215EUECB Cipollone at NL Central Bank Resilience Conference

Historical bullets

LOOK AHEAD: Eurozone Timeline of Key Events (Times BST)

Aug-12 05:18
DateTimeCountryEvent
12-Aug1000DEZEW Current Expectations Index
13-Aug0700DEHICP (f)
13-Aug0800ESHICP (f)
14-Aug0745FRHICP (f)
14-Aug1000EUIP / GDP 2nd Est / Employment
18-Aug1000EUTrade Balance
19-Aug0900EUEZ Current Account
20-Aug0700DEPPI
20-Aug1000EUHICP (f)
21-Aug0815FRS&P Global Flash PMI (p)
21-Aug0830DES&P Global Flash PMI (p)
21-Aug0900EUS&P Global Flash PMI (p)
21-Aug1000EUConstruction Production
21-Aug1500EUConsumer Confidence Indicator (p)
22-Aug0700DEGDP (f)
22-Aug0745FRManufacturing Sentiment
22-Aug1000EUQ2 Negotiated Wage Growth

JGBS: Slightly Cheaper Ahead Of US CPI, PPI & 5Y Supply Tomorrow

Aug-12 05:10

JGB futures are weaker but off lows, -9 compared to the settlement levels.

  • Cash US tsys are little changed in today's Asia-Pac session ahead of today's US CPI data.
  • (MNI) The CPI report for July is released on Tuesday Aug 12, at 0830ET. Consensus sees core CPI inflation at a seasonally adjusted 0.3% M/M in June and unrounded analyst estimates broadly echo this with a median 0.32% M/M. It would mark a further acceleration from 0.23% M/M in June and 0.13% M/M in May for its fastest pace since January, with the latest firming seen coming from core goods inflation doubling to 0.4% M/M.
  • (Bloomberg) -- Bond investors betting on a Federal Reserve interest rate cut next month face a potential roadblock: inflation. July's consumer price index, due on Tuesday, will give traders clues on how President Donald Trump's tariffs are affecting costs. Economists surveyed by Bloomberg expect the annual core inflation rate to rise to 3%, the highest since February.
  • Cash JGBs are showing a modest sell-off across benchmarks, led by the 30-year. The benchmark 10-year yield is 0.9bp higher at 1.499% versus the cycle high of 1.616%.
  • Swap rates are flat to 1bp higher, with a steepening bias.
  • Tomorrow, the local calendar will see PPI and Machine Orders data alongside 5-year supply.

STIR: RBA Dated OIS Slightly Softer After RBA Cuts 25bps

Aug-12 05:00

RBA-dated OIS pricing is flat to 2bps softer across meetings after the decision, with mid-2026 leading. 

  • A 25bp rate cut in August was given a 97% probability.
  • A cumulative 36bps of easing priced by year-end. 

 

Figure 1: RBA-Dated OIS – Current Vs. Pre-RBA

 

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Source: Bloomberg Finance LP / MNI