26 October 2022
Investors are watching the US Manufacturing data. All SUN Benchmarks recorded an increase in yield yesterday. US S&P Global data shows Mfg. PMI Oct. started contracting or was at the level of 49.9 (Vs. Sept. 52), indicating the Fed has succeeded in slowing down domestic business activity.
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25 October 2022
SUN Benchmarks were mixed earlier in the week. Yesterday, investors were waiting for Eurozone and US manufacturing data, amid the risk of a global economic recession in 2023. Furthermore, this week's market sentiment is dominated by the release of external economic data.
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24 October 2022
Dovish the Fed, closes FFR 2022 at 4.5%. For the rest of the year, the Fed could consider a smaller FFR hike (Surv. +50Bps) in December, after talk of a +75Bps hike to 4% in November.
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21 October 2022
Hawkish continued BI. BI's decision to revise down the 2022 inflation target to 6.3% YoY; or 30Bps-40Bps lower than the previous target of 6.6%-6.7%; indicating the potential for continued tight monetary policy by BI in the rest of the year.
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20 October 2022
Wait and see investors, SUN Benchmark depressed. Investors are taking a wait and see attitude, waiting for the results of BI's RDG which is projected to raise the FFR by 25Bps-50Bps, based on a Bloomberg survey.
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