RIKSBANK: Thedeen Comments On Inflation; Growth Following Speech

Sep-11 12:13

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Comments from the Governor following today's speech. Not giving much away but notably he says the "u...

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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"