US DATA: Sizeable Upward Revisions To Still Early Days For Core PCE Estimates
Mar-11 16:36
* Analysts see stronger core PCE inflation estimates for February after today's CPI print, with an...
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FED: US TSY 13W BILL AUCTION: HIGH 3.600%(ALLOT 36.60%)
Feb-09 16:32
- US TSY 13W BILL AUCTION: HIGH 3.600%(ALLOT 36.60%)
- US TSY 13W BILL AUCTION: DEALERS TAKE 33.30% OF COMPETITIVES
- US TSY 13W BILL AUCTION: DIRECTS TAKE 6.23% OF COMPETITIVES
- US TSY 13W BILL AUCTION: INDIRECTS TAKE 60.47% OF COMPETITIVES
- US TSY 13W BILL AUCTION: BID/CVR 2.76
FED: US TSY 26W BILL AUCTION: HIGH 3.500%(ALLOT 52.72%)
Feb-09 16:32
- US TSY 26W BILL AUCTION: HIGH 3.500%(ALLOT 52.72%)
- US TSY 26W BILL AUCTION: DEALERS TAKE 21.28% OF COMPETITIVES
- US TSY 26W BILL AUCTION: DIRECTS TAKE 7.97% OF COMPETITIVES
- US TSY 26W BILL AUCTION: INDIRECTS TAKE 70.75% OF COMPETITIVES
- US TSY 26W BILL AUCTION: BID/CVR 3.09
ECB: Nagel Confident About Current Rates Stance Despite Lower January Inflation
Feb-09 16:30
ECB's Nagel pours cold water on the prospects of a near-term cut following January's HICP headline undershot to 1.7% Y/Y in his speech today titled "Under what circumstances is the inflation rate too low?". Key highlights below:
- "Extending the projections from December 2025 using technical assumptions about oil prices, exchange rates, and market interest rates largely confirms the inflation outlook. Even the recent appreciation of the euro against the US dollar is unlikely to significantly change this assessment."
- "Overall, the possibility of inflation falling below the 2 percent mark in the coming quarters is quantitatively small and is mainly attributable to volatile energy prices. At the same time, price stability is ensured in the medium term and long-term inflation expectations are anchored."
- "We will act if the medium-term projection for the inflation rate deviates significantly and persistently from our 2% target. However, small, temporary deviations – especially in volatile components such as energy prices – do not require a change of course if inflation expectations are anchored."
- "In my view, there are many factors that suggest that the current interest rate level is appropriate. First, the shortfall is short-term and small, and in the medium term inflation is on track to reach our 2% target. Second, long-term inflation expectations are firmly anchored. Third, the development of core inflation also suggests that we will achieve price stability in the medium term. And fourth, monetary policy transmission is proceeding as expected."
