RIKSBANK: Thedeen Comments On Inflation; Growth Following Speech
Sep-11 12:13
Comments from the Governor following today's speech. Not giving much away but notably he says the "underlying assumption from June about growth" is confirmed: Q2 GDP was 0.5% Q/Q, below the Riksbank's 0.9% projection.
- "SWEDISH C.BANK'S THEDEEN - INFLATION WAS STILL ABOVE OUR FORECAST FROM JUNE BUT SLIGHTLY ENCOURAGING" Reuters
- "SWEDISH C.BANK'S THEDEEN - DATA HAS BROADLY CONFIRMED OUR UNDERLYING ASSUMPTION FROM JUNE ABOUT GROWTH" - Reuters
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US: MNI POLITICAL RISK - Trump Punts Trade War With China
Aug-12 12:12
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- President Donald Trump has no public events scheduled. Press Secretary Karoline Leavitt will brief at 13:00 ET 18:00 BST.
- Trump signed a 90-day extension to the tariff and export control pause with China.
- The Bureau of Labor Statistics will release its first CPI report since the firing of Commissioner Erika McEntarfer. Trump tapped E.J. Antoni, a MAGA favourite and chief economist at the Heritage Foundation, to replace McEntarfer.
- The Trump administration will “significantly escalate” criticism of Brazil and South Africa in its annual human rights reports.
- Trump announced that the federal government would assume temporary control of the DC police force and deploy 800 National Guard troops to tackle crime in the US capital.
- Trump said imports of gold will not face US tariffs.
- Trump defended a deal with Nvidia to waive export controls on some semiconductors to China in exchange for revenue sharing. Trump suggested Nvidia's most advanced AI chip could be subject to a similar deal, if capabilities were "unenhanced".
- The CBO published analysis of the ‘distributional effects’ of the ‘One Big Beautiful Bill’.
- Trump managed expectations for Friday's meeting with Russian President Vladimir Putin. Trump said it would be a “feel-out meeting” that could tee up a bilateral meeting between Putin and Ukrainian President Volodymyr Zelenskyy. He stressed, "It's not up to me to make a deal."
- Poll of the Day: US consumers are less likely to factor 'Made in USA' into buying decisions.
Full Article: US DAILY BRIEF
GILT PAOF RESULTS: The PAOF for the 4.375% Mar-30 Gilt was not taken up.
Aug-12 12:02
- GBP1.1875bln have been on offer.
- This leaves GBP40.465bln of the gilt in issue.
ECB: Nagel Echoes Prior Rhetoric: Rates At A Very Good Level
Aug-12 12:01
Comments from ECB's Nagel seem in line with his prior stance at first glance (Source: Bloomberg)
- "*ECB'S NAGEL: WE CAN REACT FLEXIBLY IF NECESSARY"
- "*ECB'S NAGEL: INTEREST RATES ARE AT A ‘VERY GOOD LEVEL’"
- "*ECB'S NAGEL: TARIFF UNCERTAINTY LOWER BUT NOT FULLY REMOVED"
- "*ECB'S NAGEL: INFLATION NO LONGER A MAJOR CHALLENGE"
