Good Morning Traders! This Thursday brings us UK GDP data as the headliner.
Here is what to expect.
Sentiment
The chorus of cautions on the debt dangers at the country's cash-strapped developers and local government finance entities is now being joined by one of China's largest state-run investors. According to the most recent data available, the National Council for Social Security Fund, which is in charge of $417 billion, has advised asset managers who manage its money to sell certain bonds, including those issued by riskier LGFVs and private developers, after a review, people with knowledge of the situation said, asking not to be identified discussing private information.
The Bank of England claims that a leveraged transaction in US Treasury futures that has become more common among hedge funds poses a threat to the stability of the world's financial system.
The outlook for demand has improved as a result of easing US inflation, which led to confidence that the cycle of rate hikes may be coming to a stop.
Docket
02:00 AM ET
UK GDP Estimate 3M/3M
Median Forecast -0.1% | Prior 0.1% | Range 0.1%/-0.2%
UK GDP Estimate MoM
Median Forecast -0.3% | Prior 0.2% | Range 0.3%/-0.7%
UK GDP Estimate YoY
Median Forecast -0.7% | Prior 0.5%
UK Manufacturing Production MoM
Median Forecast -0.5% | Prior -0.3% | Range 0.2%/-0.5%
02:45 AM ET
French HICP YoY Final
Median Forecast 5.3% | Prior 5.3% | Range 5.3%/5.3%
04:30 AM ET
BoE Credit Conditions Survey
05:00 AM ET
EU Economic Forecasts
07:30 AM ET
ECB Meeting Minutes
Speakers
04:00 AM ET
BoE's Gov. Bailey Speaks
Good Luck Today Traders!
