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July 7, 2026 9:45 AM UTC
• Our assessment is that this ongoing exercise will likely have a small boost to GDP growth. LGFV’s debt restructuring could allow some new borrowing, but the big issue is that LGFV and LG finances are dependent on one off property taxes with the building of new property. The overhang
July 7, 2026 8:25 AM UTC
Latest IMM data highlights market was still strongly spec GBP short - playing to the squeeze and EUR/GBP breakdown
NZD shorts also extended and so prone to bounce if RBNZ does not 'disappoint'
JPY shorts remain at the highs - so still a short base for noise if/when jitters strikes, as US holiday sho