Important note from the ECB Minutes released today. The ECB is looking to push back against the market's rate cut expectations for 2024. Members expressed concern that rates falling too low could ease financial conditions too much as the disinflation job is not finished. Directly from the Minutes: "Concern was expressed that the sharp market repricing threatened to loosen financial conditions excessively, which could derail the disinflationary process... it was widely regarded as important not t...
Minor economic data out of Europe had some light positives: - French manufacturing production grew 0.3% MoM, industrial output in general grew 0.5% MoM - Italian retail sales (vol) edged up 0.2% MoM. - Both narrowly beat expectations - House prices in the euro area tumbled -2.1% YoY in Q3 2023 (prev -1.5% YoY) despite edging up 0.3% QoQ.Is it possible that we have seen the worst of the decline in house prices in the euro area? $SPDR ユーロ・ストックス50 ETF (FEZ.US)$$iShares MSCI Eurozone ETF (EZU.US)$
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"Concern was expressed that the sharp market repricing threatened to loosen financial conditions excessively, which could derail the disinflationary process... it was widely regarded as important not t...
- French manufacturing production grew 0.3% MoM, industrial output in general grew 0.5% MoM
- Italian retail sales (vol) edged up 0.2% MoM.
- Both narrowly beat expectations
- House prices in the euro area tumbled -2.1% YoY in Q3 2023 (prev -1.5% YoY) despite edging up 0.3% QoQ.Is it possible that we have seen the worst of the decline in house prices in the euro area?
$SPDR ユーロ・ストックス50 ETF (FEZ.US)$ $iShares MSCI Eurozone ETF (EZU.US)$
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