Sunset Friday, March 10, 2023 Daily Market Overview Click here to read the PDF-version of this report. Markets • The developing Silicon Valley Bank story kept markets hostage and determined today’s reaction to the latest US payrolls release. Yesterday’s surprise announcement by SVB that it wanted to raise $2.25bn by issuing shares to Read more…
Friday, 10 March 2023 Please click here to read the PDF version Markets • Yesterday was supposed the be an interlude ahead of today’s payrolls with (higher than expected) US weekly jobless claims (211k from 190k) providing some ‘dovish’ distraction intraday. However, gradually the story of SVB financial, the owner Read more…
Thursday, 9 March 2023 Please click here to read the PDF version Markets • US and European interest rate markets diverged further yesterday. German/EU yields didn’t see much spill-over from Tuesday’s sharp post-Powell repositioning in US markets. The German curve inverted further (2-y yield up 2.5 bps, 30-y minus 6.4 Read more…
Friday, 4 November 2022 Please click here to read the PDF version Markets • The pound sterling underperformed peers yesterday. The Bank of England hiked by an expected 75 bps to 3%. More is coming but not as much as markets are discounting (4.5-4.75%), it said in unusually explicit wording. Read more…
Monday, 10 Ocotber 2022 Please click here to read the PDF version Markets • Friday’s strong US jobs report dashed any hopes – fueled by weaker data at the beginning of last week – that the Fed is able to ease the tightening pace any time soon. Especially the drop Read more…
Sunset Friday, October 7, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • The US labour market hums along. Companies in September added 263k jobs. The biggest contributing sectors were education & health (+90k), leisure & hospitality (+83k) and professional business services (+46k). Some point at Read more…
Friday, 07 October 2022 Please click here to read the PDF version. Markets • Core bonds extended their renewed sell-off momentum yesterday. UK Gilts underperformed German Bunds & US Treasuries, with a different curve dynamic. UK yields added 8.9 bps (2-yr) to 13.4 bps (10-yr) on a daily basis. The Read more…
Monday, 5 September 2022 Please click here to read the PDF version Markets • US payrolls added a robust 315k but a downward two-month revision, slowing income growth and an unusually large uptick in the participation rate drew the attention. It smoothed off some of the sharpest edges in terms Read more…
Sunset Friday, September 2, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • The US economy added 315k (vs 298k expected) jobs in August according to the payrolls report. A 107k downward revision to the previous two months’ data takes some shine off the headline figure. The Read more…
Sunset Friday, August 5, 2022 Daily Market Overview Dear reader, There will be no KBC Economics-Markets reports from Monday, August 8 to Friday, August 12. We resume our publications on Tuesday, August 16. *********************************************************************************************************** Click here to read the PDF-version of this report. Markets • Crushed it! The July US jobs report Read more…