EUROPEAN INFLATION: MNI Eurozone Inflation Insight – August 2025
Sep-03 13:14
We have published the MNI Eurozone Inflation Insight, with the full report found here.
Eurozone August headline HICP inflation printed marginally below consensus expectations on Tuesday, at 2.05% (cons 2.1) for essentially unchanged from the 2.04% in July.
As we flagged in our preview ahead of country-level data, such a marginal downside surprise was not sufficient to ensure a dovish tilt in EUR rates, with markets pricing for both the September and October ECB meetings to remain largely out of play.
A cumulative 7-8bps of cuts are currently priced to year end, which some Governing Council members appear to be leaning against.
One of the stronger views here, but not a surprising one, was executive board member Schnabel in a Reuters interview Tuesday morning, while some other ECB officials continue to flag a further cut as a possibility – as Bank of Lithuania Chairman Simkus, also in an interview on Tuesday morning.
ECB President Lagarde meanwhile said on Monday (Sep 1) that the Eurozone inflation goal of 2% has been met, building on her comment from the Jul 24 press conference that “Inflation is currently at our two per cent medium-term target”.
08/04 $Benchmark Public Service of Colorado 10Y +120a, 2055 Tap
08/04 $Benchmark Dominion Energy 30.5NC5.25 6.5%a, 30.5NC10.25 6.625%a
07/31-08/01 No new corporate debt issued Friday, $28.39B on week. July finishes with $130.54B total corporate debt issuance
US: Trump Posting on the Job Data
Aug-04 13:05
Donald J. Trump
@realDonaldTrump
Last weeks Job’s Report was RIGGED, just like the numbers prior to the Presidential Election were Rigged. That’s why, in both cases, there was massive, record setting revisions, in favor of the Radical Left Democrats. Those big adjustments were made to cover up, and level out, the FAKE political numbers that were CONCOCTED in order to make a great Republican Success look less stellar!!! I will pick an exceptional replacement. Thank you for your attention to this matter. MAGA!