Summary
-
- Jackson Hole is likely to be uneventful and mostly academic.
-
- US swaption implied vols are moving from short tenors to long tenors.
-
- PMIs saw significant misses, but we are not reading too much into the release. Given the other datapoints scheduled for release before the next ECB meeting, they should not feed too strongly into decision making.
-
- We find that French services tends to be resilient when surveys are negative, while German manufacturing survey negativity is playing catch up to the real data. In short, there is little new information.
Summary
-
- Jackson Hole is likely to be uneventful and mostly academic.
-
- US swaption implied vols are moving from short tenors to long tenors.
-
- PMIs saw significant misses, but we are not reading too much into the release. Given the other datapoints scheduled for release before the next ECB meeting, they should not feed too strongly into decision making.
-
- We find that French services tends to be resilient when surveys are negative, while German manufacturing survey negativity is playing catch up to the real data. In short, there is little new information.
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