5 hours ago • Posted by Martin Boujol

Core inflation in the Euro Area at its highest since December 2008

The annual core inflation for the Euro Area climbed to 1.9% in September, its highest rate since December 2008. If we include the volatile prices of energy, alcohol and food, we obtain an inflation rate of 3.4% year over year in September, well above the ECB's 2% target. Meanwhile, the consumer price index was up 0.5% month over month for September. Source: Trading Economics

#Macro
Core inflation in the Euro Area at its highest since December 2008

1 day ago • Posted by Martin Boujol

Housing starts are down in the US

Housing starts fell by 1.6% MoM in the US, to 1.555 million for the month of September, vs. a 1.62 million market forecast. It is their lowest level in 5 months. Source: Trading Economics, US Census Bureau

#Macro
Housing starts are down in the US

1 day ago • Posted by Martin Boujol

Some treasury yields back at their Q1 2020 levels

Many Wall Street strategists bet on ever so low Treasury yields, but the market seems to be moving against them in a global bond sell-off. Since the Fed's meeting in September, there are mounting expectations of an interest-rate hike to counter accelerating inflation. Source: Bloomberg

#Bonds
Some treasury yields back at their Q1 2020 levels

1 day ago • Posted by Martin Boujol

First contraction since recovery for EU construction output

Construction outputs in Europe were down 1.6% in August compared to previous year, which marks the first month of contraction since the recovery that started in March. Source: Eurostat, TradingEconomics

#Macro
First contraction since recovery for EU construction output

2 days ago • Posted by William Ramstein

European gas prices surged 9% to above 100 euros a megawatt-hour

European gas prices surged 9% to above 100 euros a megawatt-hour, after a pipeline capacity auction held on Monday showed no increase in supplies from Russia either through the Ukrainian pipeline or lines passing through Poland to northwest Europe. Gazprom's data also showed its gas exports declined in the first half of October from the same period in September. The natural gas market took a breath from a record high of 162.125 hit on October 5th after President Vladimir Putin signaled Russia would help Europe to grapple sky-high energy prices by delivering more via Ukraine. Gas prices are up more than 400% so far this year, amid a strong rebound in demand and reduced inventories ahead of the winter season. At the same time, heating demand is expected to increase due to forecasts of below-normal temperatures while wind generation is set to drop.

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