Macronotes of the day

Pubblicato il 23 Maggio 2012 da Veronica Baker

UK April Retail Sales – 2.3%M/M, -1.1% Y/Y (From +1.8% M/M, +3.3% Y/Y)

Expectations were for -0.8%m/m, +1.0 % y/y…
Any comments ?

BOE Voted 9-0 To Leave Rates Unchanged, And 8-1 QE At £325 Bln

Another QE, another drug…

And what’s happening in Germany ?
German Schatz Auction Results :

Sold Eur 4.555 bln of new zero coupon June 2014 Schatz bonds, yield 0.07 % (from 0.14%), cover 1.7 (from 1.8)

Out of target ( 5bln), but very good covarage at ridicolous interest ( lowest ever level and strongly covered )

German Linker Auction:

Sold Eur 1.219 bln of 0.1% April 2023 Bundei, yield 0.24%( from 0.15%), cover 1.3 ( from 1.6)

This is NOT a good result :  not for a marginally worse yield , but in particular failed to sell full allotment of Eur 1.5 bln

Italian May Consumer Confidence Falls To 86.5

From Reuters consensus and previous months reading of 89.0

I was expecting a very bad result,this is pretty good .
I’m honest, italian situation is much worse than this superficial reading…

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