Under 30 minutes away from the end of the thursday session. Look at the rebound we are witnessing. Increase first increase in european stocks for eight days. The swedish krona, sterling rising today. We had inflation data out of the eurozone today. A final estimate at 1. 4 headline year on year. September, logged in core inflation,. 9 percent, same as the early estimate, below the previous months. The green dotted line is the. Cbs target, just below 2 both measures are still a far cry from that measure, which is why the ecb continues to pump money into the economy. Lets get to some corporate data. A french carrier founded by a a 3. 5 billionaire had increase in thirdquarter sales after luring subscribers in the fiercely competitive wireless market. Its debut in 2012 intensified this price wall which has resulted in sluggish sales. Ltsperformance prompted to report a profit warning. Iliad gains 250,000 subscribers, wireless, 24 7 7000 broadband users during the quarter, bringing the tot
Resources. Roughly 500 stocks have fallen this month. Volatility has risen this month. Europes big fear gauge has risen by 26 in january. The most since august. Whenever surpassed the levels we saw in august when china devalued the yuan. It was about bonds. Bond yields falling to record lows. Look at the twoyear portion of the curve. Record lows in france, belgium, holland and germany. All negative. U. K. Twoyear debt has had its best year since 2009. Back in 2009 the bank of england was buying debt. The bank of england buying debt. I asked simon smith how soon it could be the for the bank of england buys that again. Lets check some hardwoods at him. Betty i like what you say about crafty what is your name for druggie . Draghi . Super mario. Mark we cant get away from that one. Super mario might be chuffed about the inflation. Yes its an improvement on the previous month. It was the biggest increase since october 2014. Lets bring it into the equation. He admits that last week inflation
Which implies the 10 year has moved significantly today. I want to turn focus to the front end of the bond curve. You see the 2year treasury have moved. Up at 2. 12 the 2year bund up 1. 15 this is about 20 basis points higher what that means is investors are pricing in a higher probability of a bigger move at the next ecb meeting. As it stands, 75 basis point hike in september. All of that is priced in after the german curve to give you more color on what actually was said at jackson hole, jay powell warned that the u. S. Economy will suffer quote some pain from Rising Interest Rates as he vows to use the feds monetary tools to stamp out inflation. Powell said there will be economic costs to the aggressive hiking cycle, but the costs continue to run hot would be far worse. Higher Interest Rates and Slower Growth and softer label or conditions will bring down inflation, but it will bring pain to households and businesses these are the costs of reducing inflation. A fair yolure to reduce
We are right around session lows, only six points off of it for the nasdaq and, you know, on friday, carl the markets rallied a brief moment after that hawkish speech and there was this thought that markets had come into more alignment with the fed speech, right after, but theres room to go and the question is, how much more does it have to do . Weve got a big week of earnings, too, that will give us some direction and the jobs report on friday. Maybe some of this is just catching up. Fed officials were trying for a long time, it seemed, to top the markets down and it wasnt working at all remember, mary daly even talked to me about it and you know at that point, right, like when that just talking to the economics reporters, talking to the tech anchors as well, trying to get a message out there but seriously were going to get some more data this week that i think will be interesting for some growth oriented names, crowd strike, we saw how Palo Alto Networks did, heres another big grower