Wednesday, 20 July 2022 Dear reader, There will be no KBC Economics-Markets reports on Thursday, July 21 and Friday, July 22. We resume our publications on Monday, July 25. Please click here to read the PDF version Markets • After recessionary fears dominating market sentiment of late, markets Read more…
Sunset Tuesday, July 19, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • The debate about a 25 or 50 bps ECB rate hike is at least as hot as temperatures outside today. It is the central bank itself, or rather “people familiar with the discussions”, Read more…
Tuesday, 19 July 2022 Please click here to read the PDF version Markets • Especially European markets yesterday showed a remarkable risk-on mood despite multiple event risks (ECB meeting, Italian political crisis, Russian gas supply to Europe, EMU PMI’s) looming large over the next days. Several (also hawkish) governors last Read more…
Sunset Monday, July 18, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • European markets are supposed to face multiple event risk this week. The ECB will likely start policy normalization with a 25 bps rate hike, but a 50 bps step still isn’t completely ruled Read more…
Monday, 18 July 2022 Please click here to read the PDF version Markets • Markets on Friday closed a volatile week on a positive note. The move was at least partially inspired by investors taking a more guarded approach on next week’s Fed meeting. The FOMC for sure still will Read more…
Sunset Friday, July 15, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • Dollar strength was the one constant in a week where inflation angst traded for recession worries and vice versa. That subsided somewhat as markets headed into the weekend. The greenback consolidated after surging to Read more…
Friday, 15 July 2022 Please click here to read the PDF version Markets • European bond yields started off with a massive surge yesterday. We view it as a belated catch-up move with their US counterparts following the CPI release on Wednesday. Both German yields and European swap yields rose Read more…
Sunset Thursday, July 14, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • Frontloading policy tightening is the talk of the town on interest rate markets these days. The Bank of Canada was leading by example as it yesterday raised its policy rate by 100 bps The Read more…
Thursday, 14 July 2022 Please click here to read the PDF version Markets • Faster than expected US inflation (9.1% y/y) once again sent shockwaves through financial markets yesterday. US bond yields shot up as much as 18 bps at the short end of the curve before paring some of Read more…
Sunset Wednesday, July 13, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • Chinese trade data and comments by ECB Villeroy served as amuse-bouche for today’s main dish: June US CPI numbers. Chinese exports rebounded significantly in June as parts of the country (Shanghai) reopened. Exports Read more…