Ken Wattret
Ken Wattret
bond euro fully played
The U.S.-Europe story is getting played out and is fully discounted in the euro and bond markets.
euro given inflation pressure signals starting weakness
The signals were very explicit, given the weakness of the euro and pressure on inflation starting to come through,
achieve encourage euro growth lower rates rather scholars-and-scholarship sooner target
This will encourage the ECB to lower rates sooner rather than later, ... Their own growth target (for the euro zone) is 2 1/4 to 2 1/2 percent. They won't achieve that now.
aggressive ammunition euro half happens move percentage point whatever
Whatever happens the euro will fall. Even an aggressive move - half a percentage point - wouldn't help, and then they'll have used all their ammunition up.
aggressive ammunition euro half happens move percentage point whatever
Whatever happens the euro will fall, ... Even an aggressive move - half a percentage point - wouldn't help, and then they'll have used all their ammunition up.
below complaint euro european levels monetary remains start union witnessed
The euro remains competitive, well below levels witnessed at the start of European monetary union when there was little complaint from manufacturers,
challenged collective denial economic euro finally markets recovery wake zone
The collective denial on the euro zone economic recovery is belatedly challenged as markets and forecasters finally wake up to reality.
consensus decline forecast neutral outcome small
The consensus PMI forecast was for a small decline and that's what we got, so it was a neutral outcome in the end,
brought certain fever herd markets mentality
There was a herd mentality to stampede and get on board. That brought the markets to a certain fever pitch.
bringing combined cycle damage demand feeling high hurricane hurt katrina oil prices swift
There's a feeling that high oil prices combined with damage from Hurricane Katrina will hurt the U.S. economy, bringing the Fed's tightening cycle to a swift end. This is boosting demand for bonds.
corporate cycle economic great household news sector
This economic cycle is different from others. It's been great news for the corporate sector but not for the household sector.
fact growth half last percent performance poor tells
So the fact we got growth of about half a percent tells you how poor the performance was over the last year.
budget budgets economic headline newspaper rather
This is going to be more of a newspaper headline budget rather than one for any macro economic changes,
expect fourth numbers possibly quarter shout subdued third
The (second-quarter) numbers are nothing to shout about, and they could have been worse, ... We can expect the third quarter to be subdued and possibly a better fourth quarter.