Interesting macroeconomic figures published in the day.
In the UK, the National Index of Prices of Dwellings (Nationwide Housing Price Index), which measures the monthly change in the average price for a house with a mortgage loan in December recorded a up 0.8% from the previous month, against expectations of + 0.5%. The figure ‘higher than the recognition of November + 0.1%. On an annual basis the index and ‘certificate to a value of + 4.5%, resulting in higher than both the previous data that the consensus, set at + 3.7% and + 3.8% y / y.
In Spain, the statistical office INE announced that the preliminary estimate of inflation (consumer price index harmonized HICP) in December showed no change from -0.3% of the survey previous. Expectations were for a 0.1% growth on an annual basis.
To the ECB’s M3 money supply in November showed a 5.1% increase year on year, lower than expected and the previous survey fixed respectively on an index of 5.4% and 5.3%. The private loans have grown by 1.4% (consensus + 1.3%).
According to what reported by Istat, in the month of November 2015, the index of producer prices industrial products decreased by 0.5% from the previous month and by 3.3% against November 2014.I prices of products sold on the domestic market decreased by 0.6% compared to October and by 4.2% on a trend basis . Excluding the energy sector are recorded decreases of 0.3% in quarterly terms and 0.5% on the basis tendenziale.I prices of goods sold in foreign markets mark no change on the previous month (with an increase of 0.1 % for the euro area and negative 0.1% for the non-euro). In trend terms there was a decrease of 0.6% (-1.2% for the euro area and -0.5% for the non-euro area) .The largest contribution to the fall in the prices of goods sold on the market interior comes from the energy sector (-3.9 percentage points). On the foreign market broader contributions to the reduction resulting from the energy sector for both the euro area and for the non-euro (-0.8 percentage points for both). The sector of economic activity for which detects the downward trend in prices is more pronounced than the manufacture of coke and refined petroleum products, with decreases of 16.0% in the domestic market and 22.4% on the foreign market.
Auctions in Italy:
– The Treasury has placed bonds for a total of 6 billion Euros, in detail have been assigned BTP maturing in November 2020 (ISIN IT0005142143) to 2.250 billion euro . The yield stood at 0.57%, up 20 basis points from the auction in late November and bid to cover 1.36. They were also awarded 2,250 billion euro in December 2025 BTP (ISIN IT0005127086). The average yield stood al’1,59%, up 23 basis points from the auction earlier. Demand exceeded supply by 1.34 times. Were finally allocated 1,500 billion euro in December 2022 CCTeu (ISIN IT0005137614) to 0.42%, down 9 basis points from the auction and previous coverage ratio equal to 1.55.
They return to grow overnight deposits at the ECB. The latest daily survey indicates that amounted to 183.284 billion of euro deposits short of European banks at the European Central Bank, up from 176.02 billion the previous reading. Rising to 228 million euro, from 118 million the previous marginal loans.
Spread BTP / Bund to 100 basis points at the halfway point. The yield on Italian government bonds to 10 years amounted to 1.63%.
Just moved the German government bonds. The Bund future rose to 157.95 points (+ 0.04%) and Bobl futures stood at 130.70 points (+0.05%).
(CC)
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