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BOE Preview After CPI: Hawkish Noises
July 22, 2026 6:11 AM UTC
• The BOE will likely maintain a hawkish bias on July 30, but are unlikely to signal a September hike. The June CPI did not really change this picture, with the core unchanged at 2.6%. Though BOE Bailey recently noted the unstable process (in the Straits of Hormuz and for energy prices), he
U.S. June ADP Employment - Slightly slower, far from weak
July 1, 2026 12:37 PM UTC
June’s ADP’s estimate of private sector employment of 98k is on the weak side of expectations and similarly below consensus forecasts for private sector payrolls tomorrow. It is possible that payrolls could outperform ADP data if payrolls capture more temporary jobs created by the World Cup. Our
China: Debt Surge Problems
July 28, 2026 10:55 AM UTC
· China general government debt/GDP is on an unstable upward trend. China authorities are reluctant to ease underlying fiscal policy more than the already large primary budget deficit, but are also reluctant to consider broadening of income tax or property taxes that would help fiscal
EUR/USD, AUD/USD, USD/JPY Flows: Kospi hammered
July 28, 2026 6:38 AM UTC
Kospi hammered, slumping another 10%, keeping tech weighed
FX not sure what to do with it, though AUD/USD rolled back from 0.7, could correct recent lift
And USD/JPY might in theory see some adjustment selling into mth-end, with Nikkei also underperforming