Hot UK wage data focused investors’ attention on the Bank of England’s battle against sticky inflationary pressures on Tuesday. The 7.3% y/y increase in weekly earnings (excluding bonuses) in the three months to May…
On Monday, the Eurozone Sentix sent a pessimistic signal about investor confidence in the Eurozone economy. The headline index dropped from -17.0 to -22.5 in July, significantly below expectations of a more muted deterioration to…
The latest update of the Manheim Used Vehicle Price Index provides a positive signal for US goods inflation. It shows used car prices fell by -4.2% m/m (-10.1% y/y) in June – its third consecutive monthly decline following…
Last week’s labor market data signal that US employment conditions remain strong – solidifying the case for a 25 bps rate hike at the Fed’s next meeting later this month (see The Numbers). Yet in order for…
Canadian hiring surprised to the upside in June. The 60 thousand increase in employment last month – the highest since January – came in triple expectations of a 20 thousand rise and follows a 17 thousand decline in…
On the surface, the lower-than-anticipated job gains suggest that US labor market conditions softened last month. Friday’s jobs report revealed that the increase in nonfarm payrolls slowed from a downwardly revised 306…
Positive economic surprises have delayed the onset of recession in the United States. But tighter monetary and fiscal policy, slowing global growth, and a looming rebound in policy uncertainty and geopolitical risk suggest that…
A perspective on the recent increase in US bond yields and this morning’s employment report.
In this short weekly report, we review some of the most common questions clients asked us in the last few weeks.
Yesterday we highlighted that falling producer prices foreshadow lower CPI inflation in the Eurozone and argued that this dynamic is positive for the bloc’s consumption outlook. Easing price pressures will ultimately lift…