イギリス
UK inflation surprised to the downside in December. Headline inflation retreated below estimates to 2.5% y/y from an eight-month high of 2.6% in November. Core inflation also decreased below estimates, printing 3.2% vs. 3.5% in November. Services inflation,…
Our European Investment strategists looked at the developed markets bond selloff from a European perspective, focusing on Euro area and UK government bonds and currencies. The recent selloff in European bonds is driven primarily by surging US yields,…
UK and German bonds are victims of the global bond market riots. Will European yields continue to move higher and will the euro and the pound find a floor anytime soon?
The November UK CPI, in line with estimates, hit an eight-month high, accelerating from 2.3% y/y to 2.6%. Core and services inflation were also strong at 3.5% (vs. 3.3% in October) and 5.0% (flat from October), respectively. Services inflation…
For our last publication of the year, we explore five key themes that will dominate the European macro landscape and markets next year. While the start of 2025 will be challenging for European assets, the latter part will offer some much-needed relief.
UK inflation was hotter than expected in October, rising to 0.6% m/m from being flat in September. Core inflation also ticked up, printing at 3.3% y/y vs. 3.2% a month prior. Services inflation remains elevated at 5.0% y/y. We do not expect…
今週、当社のセントラル・バンク・モニターズ（CBMs）を更新しました。これらは先進国経済における金融政策をどのように調整すべきかを見極めるのに役立ちます。結論としては、全体としてより緩和的な金融政策が求められるものの、G10諸国間のシグナルの乖離から生じるいくつかのトレード・アイデアがあります。
本ストラテジー・インサイトは、イングランド銀行の本日の利下げおよび先週英国政府が発表した予算案に関する当社の見解を示します。
The Bank of England cut its policy rate in line with expectations to 4.75%, but it signaled a more gradual pace of cuts as it increased its inflation forecast following last week’s budget. A 25 bps cut with hawkish guidance strikes the balance the BoE…
We recently pointed to the UK Budget announcement as a pivotal event for UK assets. Following an initially positive reception, the market has turned and priced in further fiscal premia in UK assets, with both gilts and the pound selling off. While the…