Inflation - EUR
USDi: Fed’s hawkish tide sinks all boats, BEs included
A more hawkish than expected FOMC dot plot essentially sent all major asset classes lower with TIPS/BEs far from unscathed today.
EURi: Drifting lower before Fed, AFT supply
Inflation was drifting into the red shortly before the FOMC today and chunky French supply tomorrow.
USDi: Team Reflationista scores PPI points; TIPS/BE selli...
A much stronger-than-expected May PPI print gave another point to Team Reflationista. BEs bull flattened as better TIPS/BE selling abated.
USDi: CPI sugar high quickly fades away; RM sellers
Yesterday’s CPI sugar high for the U.S. inflation asset class didn’t last too as real money sellers knocked BEs lower today.
USDi: Inflation genie out of bottle, how long though? Sel...
Today’s stronger-than-expected May CPI print woke BEs up from a six-day narrowing spell but selling pressure still remained in the background.
EURi: Europe seen rich vs US; Profit-takers emerge
Traders described Europe as rich vs US and noted profit-taking and selling coming back into the market.
USDi: BEs hellbent on limping into CPI
BEs remained hellbent on limping into tomorrow’s CPI print as continued end-user selling/profit taking persisted.
EURi: Back-end bid but flows negative; ECB HICP forecasts
The back-end of the euro inflation curve is bid but flows have turned negative amid new shorts appearing.
USDi: BEs go offline and fail to recover; End-user sales
Risk sentiment recovered from an early hacking scare but BEs didn’t come along for the ride amid more end-user TIPS/BE sales.
USDi: Position squaring weighs on BEs
Position squaring ahead of Thursday’s CPI print weighed on BEs today against an otherwise bland macro backdrop.