According to data released earlier today, he mini-boom in European construction that began earlier this year came to an abrupt halt in June, as output declined by more than 2% year-over-year (from a multi-year high of more than 7%yoy in April): Growth in building construction...
Yesterday, we noted the continued decline in Japanese government bond yields (here)....
Given recent drama among Portuguese financial institutions, we are not especially surprised to see an uptick in the yield on credit default swaps (CDSs): What is a little more surprising is the move up–small though it may be (so far, anyway)–in CDS for Germany, aka the...
In June, new vehicle registrations in Europe maintained a positive year-over-year growth rate for the tenth month in a row– a trend not seen since before the global financial crisis. Though registrations fell nearly 2% in Germany, trends remained more positive in the four other...
Credit default swaps (CDS)– the insurance against non-payment for fixed income products– have fallen across Europe since reaching highs in 2012: After the ECB’s early June announcement of extraordinary measures, CDS fell abruptly– but yields have creeped back towards pre-announcement levels in the last couple...
European markets were generally unfazed by seemingly ho-hum economic data released today....
In the wake of today’s ECB announcement of rate cuts as well as additional measures to boost bank lending and head off disinflation/ deflation trends in many of its member countries, the euro has (unsurprisingly) moved lower versus the dollar: How far might it decline?...
The headline number for European unemployment came in slightly better (lower) than expected today. However, young people under the age of 25 still struggle to find jobs....
Economic policy uncertainty continues to fall– along with the oft-quoted VIX– as this week’s much anticipated ECB meeting nears. Will Europe’s monetary authority act decisively in an effort to combat increasingly common hints of disinflation/deflation? Does that involve buying asset-backed securities? Will today’s weak inflation...
New car registrations in the EU slowed to just 4.5%yoy in April, down from a growth rate of more than 13%yoy in December: Interestingly, while new car registrations grew by more than 50%yoy in Portugal and more than 30%yoy in Spain, many of the Nordic...
According to the FT, ”Groups in Europe have already put €15bn in new high-yield debt to work funding mergers and acquisitions this year, compared with €9.6bn for all of last year, according to Barclays Research....
As we have noted on a number of occasions in the last few months (here, here, and here), a number of often cited surveys pertaining to the Eurozone are exhibiting weak expectations–and today’s release of the Sentix survey is no different....
Unemployment in the Eurozone still hovers just under 12%, according to data released earlier today: Unsurprisingly, the highest rates of joblessness remain in the peripheral countries while places like Switzerland, Denmark, and Germany boast rates in the lower single digits: With respect to youth unemployment,...
Once again, the expectations component of a survey– in this case, the Sentix Economic Index– have deviated from the story that the headline or current situation numbers would relay....
A quick review of yields relative to Germany in the last few years… Spain Italy Greece Portugal France...
