Germany's GDP breakdown details to confirm the expected strength of domestic demand

May 22, 2015 05:18 am UTC| Commentary

The flash Q1 GDP number was a big disappointment, rising by a mere 0.3% qoq (median 0.5%, SG 0.6%). However, the qualitative information released confirms the forecast of strong domestic demand driving growth. While...

Malaysia's April CPI – GST implementation pushes up inflation

May 22, 2015 05:07 am UTC| Commentary

Inflation picked up sharply to 1.8% y/y in April (March: 0.9%), in line with our forecast but below consensus. The rise was broad based, reflecting the implementation of the GST in April, with all categories bar transport...

Switch from Turkey long-end into Bahrain ‘44s

May 22, 2015 04:58 am UTC| Commentary

The relative spread relationship between Turkey and Bahrain has largely been driven by oil prices over the past year. With the outlook for oil prices uncertain, it seems unlikely that the spread differential will...

Russia switches from $30s/on-the-run bonds into EUR20s

May 22, 2015 04:39 am UTC| Commentary

Russia credit has rallied meaningfully year-to-date, driven by a confluence of factors: the rebound in oil prices, the stabilization of Russias external position and the rally in the rouble, the Minsk II agreement,...

Daily Economic Outlook: May 22nd, 2015

May 22, 2015 04:22 am UTC| Commentary

Yesterdays larger-than-expected softening in preliminary May PMI readings for Germany suggests some downside risk to the mild expected pullback in the IFO balances; analysts look for 108.1 on the overall business climate...

Japan rates review: Barclays

May 22, 2015 02:30 am UTC| Commentary

Barclays notes:We would not expect much rise in JGB yields even if the global economic cycle were to bottom out and risk-on sentiment take hold in financial markets.We recommend maintaining a neutral delta and waiting for...

UK rates review: Barclays

May 22, 2015 02:22 am UTC| Commentary

Barclays notes:We expect early richening in the upcoming Gilt roll as short positions in the front contract are closed. This will likely be accompanied by short-term cross market outperformance versus Bunds and USTs.We are...