LOOK AHEAD: UK Timeline of Key Events (Times GMT)

Feb-01 06:23
Date UK Period Event
01-Feb 0930 Jan S&P Global Manufacturing PMI (Final)
01-Feb 1200 Bank Of England Interest Rate
01-Feb 1230 BoE Press Conference
01-Feb 1400 Jan DMP Data
02-Feb 1215 BOE's Pill- MPR National Agency briefing
06-Feb 0001 Jan BRC-KPMG Shop Sales Monitor
06-Feb 0930 Jan S&P Global/CIPS Construction PMI
07-Feb 0840 BoE's Breeden Speaks At Women In Economics Event
08-Feb 1500 BoE's Mann Speaks At OMFIF
13-Feb 0700 Dec/Jan Labour Market Survey
14-Feb 0700 Jan Consumer inflation report / Producer prices
15-Feb 0700 Dec / Q4 GDP / Services / Production / Trade / Construction
16-Feb 0700 Jan Retail Sales
21-Feb 0001 Jan XpertHR pay deals for whole economy
21-Feb 0700 Jan Public Sector Finances
22-Feb 0930 Feb S&P Global/ CIPS UK Flash PMI

Historical bullets

LOOK AHEAD: UK Timeline of Key Events (All Times in GMT)

Jan-02 06:23
Date UK Period Event
02-Jan 0930 Dec S&P Global Manufacturing PMI (Final)
04-Jan 0930 Dec BOE Lending to Individuals/M4
04-Jan 0930 Dec BOE's Monthly Decision Maker Panel data
04-Jan 0930 Dec S&P Global Final UK Composite/Services PMI
05-Jan 0930 Dec S&P Global/CIPS Construction PMI
12-Jan 0700 Nov GDP / Services/ Production / Trade
12-Jan 0700 Nov Output in the Construction Industry
16-Jan 0700 Nov UK Labour Report
17-Jan 0700 Dec Consumer inflation report
17-Jan 0700 Dec Producer Prices
19-Jan 0700 Dec Retail Sales
23-Jan 0700 Dec Public Sector Finances
24-Jan 0001 Dec Xpert HR pay deals for whole economy
24-Jan 0930 Jan S&P Global Flash PMI
26-Jan 0001 Jan Gfk Monthly Consumer Confidence
30-Jan 0930 Jan BOE M4/Lending to Individuals

LOOK AHEAD: Eurozone Timeline of Key Events (Times GMT)

Jan-02 06:18
Date Time Country Event
02-Jan 0815 ES S&P Global Manufacturing PMI
02-Jan 0845 IT S&P Global Manufacturing PMI
02-Jan 0850 FR S&P Global Manufacturing PMI (f)
02-Jan 0855 DE S&P Global Manufacturing PMI (f)
02-Jan 0900 EU M3
02-Jan 0900 EU S&P Global Manufacturing PMI (f)
03-Jan 0855 DE Unemployment
04-Jan 0630 DE North Rhine Westphalia CPI
04-Jan 0745 FR HICP (p)
04-Jan 0815 ES S&P Global Composite/Service PMI
04-Jan 0845 IT S&P Global Composite/Service PMI
04-Jan 0850 FR S&P Global Composite/Service PMI (f)
04-Jan 0855 DE S&P Global Composite/Service PMI (f)
04-Jan 0900 DE Bavaria / Saxony CPI
04-Jan 0900 EU S&P Global Composite/Service PMI (f)
04-Jan 1300 DE HICP (p)

AUSSIE BONDS: Weak Start To The Year, US Tsy Futures Weigh

Jan-02 04:41

ACGBs (YM -5.0 & XM -6.0) sit weaker, hovering near the lows observed during the Sydney session. In the absence of significant domestic events today, local market participants are relying on US tsy futures as a directional indicator. Notably, US tsy 10-year futures are trading at -0-12+, standing at 112-16, having weakened ahead of the New Year's long weekend.

  • Cash ACGBs are 5-6bps cheaper, with the AU-US 10-year yield differential 3bps wider at +14bps. It is important to note however that cash US tsys have not been trading in today's Asia-Pac session due to a public holiday in Japan.
  • The swaps curve has bear-steepened, with rates 3-6bps higher. EFPs are 1-2bps tighter.
  • The bills strip has bear-steepened, with pricing -3 to -6.
  • RBA-dated OIS pricing is 1-5bps firmer across meetings, with November leading.
  • Tomorrow, the local calendar sees Judo Bank Composite and Services PMIs.
  • Later today, the US calendar sees S&P Global US Manufacturing PMI (Dec F) and November Construction Spending. ISM Manufacturing is due on Wednesday.