Eurozone consumer prices rose at the fastest pace in almost a decade in August, up 3% on a year earlier
Eurozone shares -0.8% (-0.9% wk) US shares -0.9% (-0.6% wk) w grth concerns & vol with “triple witching” expiry of options & futures contracts US 10 yr yld +2bp to 1.36% Oil -0.9% to $72 Gold +0.03% to $1754.3 Iron ore -3.4% (2nd chart) ASX futures -0.9% $A 0.7256 w $US +0.3%
Bulgaria has significant problems with corruption and money laundering. Nevertheless, the European Union is prepared to accept the country as the next member of the eurozone. Many fear that might be a bad idea.
Eurozone inflation may clock in higher than the European Central Bank currently expects, according to Governing Council member Mārtiņš Kazāks, adding to warnings that policymakers may be underestimating price trends.
Labour costs in the eurozone have fallen for the first time in a decade, slipping 0.1 per cent in the three months to June from a year ago despite rising consumer price inflation and falling unemployment.
#ECB balance sheet jumps by a whopping €139bn to hit fresh ATH at €8,191.3bn on QE and as Receivables from IMF gained €122.4bn. ECB's total assets now equal to almost 80% of Eurozone's GDP vs Fed's 37%, BoE's 39%, and BoJ's 133%.
It used to be #Italy that was seen as the biggest risk. But now #Spain is the new problem child in the Eurozone. The govt in Madrid is coping w/the pandemic extremely badly, the GDP has collapsed. There is even the threat of a banking crisis. via @welt
The Bank of England just announced it will finance the gvt directly. Meanwhile in the eurozone the tragi-comedy of errors, also known as the Eurogroup, will reconvene tonight to proclaim that the crisis is SO urgent that it will do NOTHING of macroeconomic significance.