US federal government posts budget deficit of $149.2bn in July
Aug 13, 2015 04:14 am UTC| Commentary
The US federal government reported a monthly budget deficit of $149.2bn for July. Whereas, consensus was expecting the monthly budget deficit to reach $140bn. The monthly deficit widened by about $55bn over the same period...
Aug 13, 2015 00:48 am UTC| Commentary
The BRL has been the worst performing EM currency this year with USD/BRL touching a near 2002 high in August of 3.5696. Internal and external factors have both added to depreciation pressures in recent weeks. Fears of a...
Aug 13, 2015 00:39 am UTC| Commentary
In the wake of the raft of Bank of England communications at the August MPC meeting, the central view of the timing of the first UK Bank Rate rise is shifted from November 2015 to February 2016. Despite earlier speculation...
Aug 13, 2015 00:13 am UTC| Commentary
Having fallen sharply in early July, spreads on peripheral European bonds have moved sideways to higher over the past month. The lack of further improvement has occurred despite continued progress in negotiations over a...
Aug 12, 2015 23:56 pm UTC| Commentary
The last few weeks have seen the US yield curve twist. While shorter-dated yields are little changed, longer-dated yields have fallen. Declines in commodity prices have reduced inflation expectations, reinforcing the view...
Spain: Domestic demand is the main growth driver
Aug 12, 2015 23:21 pm UTC| Commentary
Spain has already released its Q2 GDP growth number at an impressive 1.0% qoq. The details were not published but domestic demand was the main (or only) growth driver. Of that, two-thirds came from private consumption and...
France: The slow cyclical recovery continues
Aug 12, 2015 22:59 pm UTC| Commentary
Taking account of the recent hard data, a marked slowdown in Q2 growth is expected, clocking in at 0.3% qoq after a strong 0.6% qoq in Q1 15. There is no change to the June GDP forecast although the risk appears slightly...