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Week Ahead Economic Preview

Week Ahead Economic Preview

Next week’s data flow from the US, eurozone and Japan will be scrutinised to gauge how the respective economies are performing in the second quarter. Key statistics include US durable goods orders, home sales and consumer confidence, as well as inflation...

US Flash PMI points to weak end to second quarter

US Flash PMI points to weak end to second quarter

The US economy ended the second quarter on a softer note, with flash US PMI data showing a slight loss of momentum since May. While the survey data continue to signal that the economy grew in the second quarter, the data add to recent evidence which points...

Japan's manufacturers end second quarter on softer note

Japan's manufacturers end second quarter on softer note

Signs of slower growth appeared in Japan’s manufacturing sector in June, suggesting some waning of the upturn seen earlier in the year.
The flash reading of the Nikkei Manufacturing PMI came in at 52.0 in June, down from 53.1 in May and its...

The P&L attribution test - going, going, gone?

The P&L attribution test - going, going, gone?

The P&L attribution test (PLAT) is one of the most hotly debated topics in FRTB with industry experts doubtful whether the test can ever be made to work. In this article we review the goal of the test, summarise our empirical findings and speculate on...

“IL-annoying” times for the state’s municipal bonds

“IL-annoying” times for the state’s municipal bonds

Illinois’ nearly two year budget impasse continues to plague all municipal bonds linked to the state’s credit. The state’s budget deficit is expected to reach a staggering $6 billion by the end of June, with the severity of the situation increasing after a...