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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
FOMC - Warsh leaves markets confused
July 29, 2026 7:30 PM UTC
That this FOMC meeting showed a 9-3 vote for unchanged policy, with the dissents being for tightening, shows there was a case for tightening and a case for steady policy. However, the press conference from Chairman Warsh gave little insight on the nature of the debate, talking a lot about how the Fe
FOMC - Warsh leaves markets confused
July 29, 2026 7:30 PM UTC
That this FOMC meeting showed a 9-3 vote for unchanged policy, with the dissents being for tightening, shows there was a case for tightening and a case for steady policy. However, the press conference from Chairman Warsh gave little insight on the nature of the debate, talking a lot about how the Fe
FOMC leaves rates unchanged with three hawkish dissents, Bank of Canada minutes a slightly hawkish lean
July 29, 2026 6:18 PM UTC
The FOMC has left rates unchanged as we expected, in a 9-3 vote, with three hawkish dissents for a 25bps tightening, from Cleveland Fed’s Hammack, Dallas Fed’s Logan and Minneapolis Fed’s Kashkari. We had expected only the first two of the three dissents, but Kashkari’s is not a major shock.