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Powell has a labor market bee inhis bonnet
While the Fed left rates on hold today,both the FOMC statementand Powell's pressconference strongly hinted that the first cut is likely coming at the next meeting inSeptember, The statement shifted the Fed's worries from tilted toward
海外研报
2024年08月02日
BANK OF ENGLAND TAKES A SMALL LEAP OF FAITH
The MPC has delivered a 25bp reduction that takes Bank Rate to 5% in what is essentially an “insurance” cut.As mentioned in the minutes, “it is now appropriate to reduce slightly the degree of policy restrictiveness" while
海外研报
2024年08月02日
A hike, a hold and a cut
Central banks are in sharp focus this week. The Fed (Wed) has little upside to do anythingmore than hint that a September cut is on track. For the BoJ (Wed), we maintain our out-ofconsensus call for a 25bp
海外研报
2024年08月02日
Precious Metals Trading Desk View
This publication was prepared by Bank J Safra Sarasin (BJSS) Trading department. The views or ideas expressed herein are those of the desk and/or the author only. The publication cannot be considered as investment research or a
海外研报
2024年08月02日
Weekly spending update through July 27
Key takeaways• Total card spending per HH was up 0.1% y/y in the week ending Jul 27, according to BAC aggregated credit & debit card data.
海外研报
2024年08月02日
US Daily: July Payrolls Preview (Walker/Rindels)
We estimate nonfarm payrolls rose by 165k in July, below consensus of +175kand the three-month average of +177k. We estimate private payrolls increased
海外研报
2024年08月02日
How effective is currency hedging usingforwards?
One of the many complexities in currency risk management arises from effectivelymanaging risk of a portfolio exposed to continuous currency exposure. This isimportant for both corporations and asset managers alike. For corporations, thisform
海外研报
2024年08月02日
EURO CRISIS 2.0 – THE “CRISIS” AT THE CORE
There is talk of a new euro crisis, this time centred on core EMU countries like Germany and France. This fear is unwarranted. While low interest rates stimulated the EMU core during the
海外研报
2024年08月02日
Hong Kong: Retail sales rose in June
On a month-over-month basis (seasonally adjusted), Hong Kong retail salesincreased in June (+1.7% in value terms, +1.4% in volume terms). Sales value rose
海外研报
2024年08月02日
Situation Room July FOMC: Yes man
The biggest takeaway from the July FOMC was that chair Powell largely agreed with market pricing for a September cut (Exhibit 1), assuming no big surprises on inflation.
海外研报
2024年08月02日
