HALISTER1: U.K. Jan. Weekly Earnings Due in 5 Mins; Est. 2.0% vs Prev 1.9%

U.K. Jan. Weekly Earnings Due in 5 Mins; Est. 2.0% vs Prev 1.9%

(Bloomberg) -- U.K. Jan. 3-Mo ILO unemployment rate est. 5.1% vs prev 5.1%.
  • U.K. Feb. jobless claims change est. -9.1K vs prev -14.8K
  • U.K. Feb. claimant count rate est. 2.2% vs prev 2.2%
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: FFK6 Underpricing Fed Tightening; See 10Y BTP/Bund at 75bp: GS

FFK6 Underpricing Fed Tightening; See 10Y BTP/Bund at 75bp: GS

(Bloomberg) -- May Fed Fund futures (FFK6) should assign at least a 50-50 probability of Fed hiking over this horizon as opposed to current pricing of 1-in-3, Goldman Sachs strategist Francesco Garzarelli writes in client note.
  • Financial conditions are back to roughly where they were when FOMC last met Dec. 16
  • From a medium-term perspective, continue to be convinced that the best way to position short U.S. fixed income is to be long breakeven inflation, especially maturities between 5Y and 10Y
    • GS analysis suggests there is a well-established upward trend in core service prices, which represent 80% of the overall core CPI
  • Continue to see 10Y Italy/Germany trading ~75bp
    • Should ECB QE need to be further upsized, a shift away from the current capital key allocation toward market capitalization weights seem probable which would benefit France, Italy and Spain
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
GS US (Goldman Sachs Group Inc/The)
2539Z GR (European Central Bank)

People
Francesco Garzarelli (Goldman Sachs Group Inc/The)

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UUID: 7947283

HALISTER: BMW CEO’s Strategy Puts Focus on Electric, Luxury Vehicles

BMW CEO’s Strategy Puts Focus on Electric, Luxury Vehicles

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
BMW GR (Bayerische Motoren Werke AG)

People
Dominic O'Brien (Exane BNP Paribas)
Harald Krueger (Bayerische Motoren Werke AG)
Norbert Reithofer (Bayerische Motoren Werke AG)

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UUID: 7947283