1/4 earlier today: French business survey Oct survey fell to fresh 4.5Y low to 99
INSEE is the French equivalent of the German IFO and both are part of the ESI data.
tomorrow both French and German M PMI, S PMI and C PMI expected to improve by +0.2/+0.6 range tho
INSEE is the French equivalent of the German IFO and both are part of the ESI data.
tomorrow both French and German M PMI, S PMI and C PMI expected to improve by +0.2/+0.6 range tho
2/4 as most (global) business confidences peaked Q1 2018 (partly due to global "trade war", previously too hawkish FED, BREXIT uncertainty etc), so did INSEE, IFO, ESI (European Economic Sentiment).
since that peak, market has played the disinflation theme
since that peak, market has played the disinflation theme
3/4 this global macro disinflation theme reflected in this huge swing in 10Y BUNDs and OATs Govt Bond yield YoY from > +1z to recently < -1z
4/4 short term technical picture since reaching the < -1z exhaustion, BUNDs rebounded 37bp or 3% FGBLZ9 Futs, OATs 40bp or 3.2% FOATZ9 Futs.
US-China trade deal hope as well as BREXIT deal hope headlines adding fuel as well as potential Germany fiscal stimulus besides ECB QE
US-China trade deal hope as well as BREXIT deal hope headlines adding fuel as well as potential Germany fiscal stimulus besides ECB QE
@threadreaderapp unroll
