German State CPIs: Uptick from the prior in-fitting with mainland expectations, core NRW continues to cool

Reaction details (09:12)

• A kneejerk hawkish reaction as the metrics began filtering through higher than their priors but the extent of this was moderate as the magnitude largely conforms to expectations for the mainland numbers at 13:00BST. Specifically, Bund Jun'24 fell from 130.50 to 130.36 over the course of three minutes.


• Thereafter, a modest paring of 5-10 ticks occurred as the Baden-Wurttemberg filtered through and came in cooler than the prior. Following this, the core North Rhine Westphalia figure printed and showed a continued cooling in the measure. Findings which brought the Bund back to pre-release levels of circa. 130.50 around seven minutes later.

29 Apr 2024 - 09:10- Fixed IncomeResearch Sheet- Source: Newsquawk