- BOE raises bank rate by 75 bps to 3.00%, as expected
- Bailey: Shock to the economy from Ukraine war is greater than in the 1970s
- BOE's Bailey: Bank rate may have to go up further but less than markets expect
- Bailey Q&A: We do think the market curve is too high but we don't predict
- ISM US October services PMI 54.4 vs 55.5 expected
- US factory orders for September 0.3% vs. 0.3% expected
- October S&P Global final services PMI 47.8 vs 46.6 prelim
- ECB's Kazaks: 50-75 bp hikes are possible in December
- Atlanta Fed GDPNow index rises to 3.6% from 2.6% last
- BOE's Bailey: Nobody should read a 75 basis points as a new normal
- ECB's Centeno: We're much closer to the neutral rate now
- Canada September building permits fall by the most on record
- US September trade balance -$73.3B vs -$72.2B expected
- US initial jobless claims 217K vs. 220K expected
- Canada September trade balance +1.14B vs +1.34B expected
- US Q3 unit labor costs +3.5% vs +4.1% expected
- Former Pakistan PM shot in the leg in assassination attempt
Markets:
- Gold down $5 to $1630
- US 10-year yields up 1 bps to 4.15%
- WTI crude oil down $2.00 to $88.00
- S&P 500 down 1.05%
- USD leads, GBP lags
