Eurozone core inflation unexpectedly sticky: Headline CPI slows to +2.5% in June from 2.6% in May, in line w/forecasts
However, core inflation unchanged at 2.9% – a notch higher than forecasted. Experts had expected it to cool to 2.8%. Source: HolgerZ, Bloomberg
France vs German 10 year spread keeps moving even higher...
Source: The Market Ear
#french #elections: Former President François Hollande back to business?
Hollande is running for a seat in Parliament and Macron didn't put any candidate in front of him. In the (plausible) scenario of a hung parliament, Hollande could be chosen by Macron as Prime Minister of a unity government.
Latest IFOP poll for lower-house snap election in France
This shows far-right way ahead (36% in blue) ahead of far left coalition (28.5% in red) while incumbent Macron's center-right party comes 3rd (21% in orange). It seems that far-right will at least win relative majority
In case you missed it...
Europe’s gas imports from russia overtook supplies from the US for the first time in almost two years in May, despite the region’s efforts to wean itself off Russian fossil fuels since the full scale invasion of Ukraine. While one-off factors drove the reversal, it highlights the difficulty of further reducing Europe’s dependence on gas from Russia, with several eastern European countries still relying on imports from their neighbour. The US overtook Russia as a supplier of gas to Europe in September 2022, and has since 2023 accounted for about a fifth of the region’s supply. But last month, Russian-piped gas and LNG shipments accounted for 15 per cent of total supply to the EU, UK, Switzerland, Serbia, Bosnia and Herzegovina and North Macedonia, according to data from ICIS. LNG from the US made up 14 per cent of supply to the region, its lowest level since August 2022, the ICIS data showed. Link to Article >>> https://lnkd.in/eJJjKBFi Source: FT
Europe is way behind in Tech 💻
Source: Science Is Strategic, The Economist, Pitchbook #venturecapital
Brussels will impose tariffs of up to almost 50 per cent on Chinese electric vehicles, brushing aside German government warnings that the move could spark a trade war with Beijing.
https://on.ft.com/3yZxBnW
France 10y risk spread over Germany keeps rising. Jumps to 62bps.
Source: HolgerZ, Bloomberg
