View:
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
Preview: Due August 13 - U.S. July PPI - Prices seen subdued when data was surveyed
August 3, 2026 1:12 PM UTC
We expect July’s PPI to reflect more the more optimistic view of the Middle East seen at the start of the month than the riskier one later in the month. We expect gains of 0.1% overall, 0.3% ex food and energy and 0.2% ex food and trade, mostly subdued, if stronger than respective June outcomes of
Preview: Due August 13 - U.S. July PPI - Prices seen subdued when data was surveyed
August 3, 2026 1:12 PM UTC
We expect July’s PPI to reflect more the more optimistic view of the Middle East seen at the start of the month than the riskier one later in the month. We expect gains of 0.1% overall, 0.3% ex food and energy and 0.2% ex food and trade, mostly subdued, if stronger than respective June outcomes of
Preview: Due August 4 - U.S. June Trade Balance - Deficit to correct lower, but remain large
August 3, 2026 12:40 PM UTC
We expect a June trade deficit of $73.5bn, down from $77.6bn in May which was the widest since a record pre-tariff deficit in March 2025, but still significantly above the deficits seen in the first four months of 2026, each of which was close to $55bn.
The Fed's Balance Sheet: Revolution or Recalibration
August 3, 2026 9:18 AM UTC
· Fed chair Warsh has reopened the question of how the Federal Reserve implements monetary policy, not just the size of the balance sheet. The two go hand in hand.
· The realistic choice is not between today's balance sheet and a return to 2006, but among several ways of o