Sunset Monday, October 17, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • Jeremy Hunt to the rescue! The new UK Chancellor in an attempt to restore the UK’s credibility shelved the lion part of previous Chancellor Kwarteng’s mini-budget, while also lowering the bill to shield UK Read more…
Thursday, 13 October 2022 Please click here to read the PDF version Markets • Daily changes in European and US interest rate markets were modest compared to what we got used to of late. US yields eased between 1.5 bps (2-y) and 5.25 bps (5-y). Investors clearly didn’t want to Read more…
Sunset Tuesday, October 11, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • And there is the Bank of England again. Just yesterday, it announced additional measures to support market functioning. In a statement today, the UK central bank widened the scope of its emergency gilt Read more…
Thursday, 29 September 2022 Please click here to read the PDF version Markets • The Big Bail(ey)-Out. By announcing a temporary purchasing programme of long-dated UK Gilts, the Bank of England put an end to the unfolding bond crash. Originating from the Financial Policy Committee, it is a measure to Read more…
Sunset Wednesday, September 28, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • The heavy UK Gilt sell-off triggered a response by the Bank of England. They consider the repricing, especially at the very long end of the curve, as a material risk to UK financial stability Read more…
Monday, 26 September 2022 Please click here to read the PDF version Markets • UK (core?!) bonds got an incredible beating on Friday. Markets didn’t take the country’s borrowing and spending spree as presented by Min Fin Kwarteng well. Risk premia (gaping deficits) as well as BoE tightening bets sharply Read more…
Sunset Monday, September 19, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • No mercy for sterling today even as it’s the Queen’s state funeral. Cable is drifting towards Friday’s sell-off low at 1.1350 with EUR/GBP reaching for the 0.88 big figure. General market conditions are Read more…
Sunset Friday, September 9, 2022 Daily Market Overview Click here to read the PDF-version of this report. Markets • A75 bps rate hike is not the new norm (according to ECB’s Lagarde yesterday at the ECB press conference). Also the Fed pledged to set interest rates in line with incoming economic data. Read more…
Tuesday, 6 September 2022 Please click here to read the PDF version Markets • Energy stayed the dominant trading theme on European markets yesterday. Gas prices surged as much as 36% intraday before the panic subsided somewhat. Eventual gains for natural gas amounted to about 15%. Oil prices also rose Read more…
Friday, 5 August 2022 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. *********************************************************************************************************** Please click here to read the PDF version Markets • The Bank of England policy meeting was widely watched yesterday, Read more…