OPTIONS: Expiries for May23 NY cut 1000ET (Source DTCC)
May-22 14:40
- EUR/USD: $1.1145-50(E1.1bln), $1.1180-85(E1.1bln), $1.1225-30(E746mln), $1.1295-00(E1.7bln), $1.1330-50(E1.3bln), $1.1400(E1.1bln), $1.1495-05(E1.9bln)
- USD/JPY: Y143.00($1.4bln), Y143.20-40($788mln), Y143.50($598mln), Y144.00($2.1bln), Y144.35-50($1.1bln), Y145.00($2.2bln)
- EUR/JPY: Y160.90-00(E570mln)
- AUD/USD: $0.6375(A$684mln)
- USD/CAD: C$1.4000-15($1.3bln)
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GERMANY: Mittelstand Labour Market Deterioration Accelerating
Apr-22 14:40
The German labour market in the small- and medium enterprise sector is deteriorating, with employment declining 0.7% Y/Y in March according to Datev data seen by newspaper FAZ.
- "This means that job cuts, which began in the SME sector in September last year, have recently accelerated."
- The small- and medium enterprise sector, called Mittelstand, is considered of elevated importance in Germany (it is "account[ing] for around 55 percent of the workforce"), and while a deterioration in hiring perspectives there does not necessarily come unexpected, it underscores the economic turmoil apparent domestically since at least 2022.
- "Turnover in the SME sector has been shrinking for months, while wages and salaries are rising faster than inflation. According to the latest data, turnover in March was 4.5 percent lower than a year ago, while wages in the SME sector rose by 4.6 percent."
The report mirrors broader trends in the country: Latest German labour market data on balance suggested that the ongoing economic weakness in the country continues to filter through to employment metrics, and the IFO employment index suggests there is little relief in sight ('Labour Market Softening Continues' - MNI, Mar 28).
POILIEVRE SAYS CONSERVATIVES TO CUT CANADA DEFICIT BY 70%
Apr-22 14:33
- POILIEVRE SAYS CONSERVATIVES TO CUT CANADA DEFICIT BY 70%
- CONSERVATIVES PLEDGE CAD31.4B CANADA DEFICIT THIS FISCAL YEAR
- POILIEVRE SAYS DEFICIT SHRINKS TO CAD14.2B IN FISCAL 2028-29
GILT AUCTION PREVIEW: On offer next week
Apr-22 14:31
The DMO has announced it will be looking to sell GBP900mln of the 1.25% Nov-54 linker (ISIN: GB00BPSNBG80) at its auction next Tuesday, April 29.
