EU HICP Excluding Food & Energy Flash YY (Dec) 2.3% vs. Exp. 2.4%
The December flash reading of the EU HICP excluding food and energy at 2.3%, slightly below expectations of 2.4%, suggests persistent inflationary pressures but may indicate easing relative to previous trends.
UK sells GBP 4.25bln 4.125% 2031 Gilt; b/c 3.50x (prev. 3.23x), average yield 3.980% (prev. 4.093%), tail 0.2bps (prev. 0.2bps)
[MARKET UPDATE] Modest hawkish reaction in EUR and Bunds on the EZ Flash HICP figures, as bets for a cooler-than-expected print following the German series unwind. The move proved fleeting with HICP at the ECB's target and the on-hold narrative maintained
EU HICP Excluding Food & Energy Flash YY (Dec) 2.3% vs. Exp. 2.4%
[MARKET ANALYSIS] Choppy but contained FX trade as markets await economic data
"Iran's president calls on law enforcement agencies not to attack protesters", Sky News Arabia reports
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This miss could have implications for European Central Bank policy, particularly if it reinforces doubts about the pace of rate hikes and the inflation outlook. Overall, this print is critical for assessing the ECB's future direction and market sentiment.
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