Economy
SNB official urges expansion of countercyclical capital buffer for banks
Antoine Martin, SNB vice president, highlights the need for higher capital reserves to bolster financial stability amid debates over tighter bank oversight in Switzerland.
Hungary reaffirms 2030 euro adoption target despite higher deficit
Finance Minister András Kármán says Hungary remains committed to joining the eurozone by 2030 despite the government projecting a 7.5% budget deficit for 2026, up from earlier forecasts.
US private payrolls rise by 11,750 jobs weekly in late summer
ADP’s NER Pulse shows hiring momentum slowing to a four-week average of 11,750 jobs through August 8, down from peaks in May. Report is preliminary and seasonally adjusted.
Hungary’s central bank cuts key rate to 5.5% in third consecutive move
The National Bank of Hungary lowered its benchmark interest rate by 25 basis points, citing a decade-low inflation reading of 1.2% in July. Governor Mihaly Varga signaled scope for further quarter-point reductions.
U.S. private payrolls rise 11,750 weekly in four weeks to Aug 8: ADP
Weekly private payroll growth averaged 11,750 jobs in the four weeks to Aug. 8, ADP data shows, up from 9,500 the prior week, as labor market momentum remains subdued.
Hungary’s central bank cuts key rate to 5.5% in third straight move
National Bank of Hungary reduces benchmark rate by 25 bps amid slowing inflation and currency appreciation. Governor Mihaly Varga to hold briefing on policy outlook.
U.S. building permits rise 4.3% in August, below expectations
Permits issued increased for the first time in two months, signaling tentative recovery in construction activity despite missing forecasts.
Brazil consumer confidence falls to lowest since late 2022 in August
FGV's consumer confidence index dropped for a fourth straight month, hitting 84.7 points as households grow more pessimistic on finances and durable goods purchases.
U.S. Treasury buybacks near $4 bln fuel bond rally, CTA short squeeze seen
Long-term Treasury purchases by Scott Bessent's team coincided with a 10-basis-point drop in 30-year yields after a 19-year high. Analysts warn of potential financial repression and fiscal risk compensation.
Japan seeks record $230 billion for debt servicing in FY2027 budget
Finance Ministry requests ¥36.6 trillion to cover interest payments and redemptions, a 17% rise from the current fiscal year's initial allocation. The provisional budget surpasses ¥130 trillion for the first time.
UK Chancellor Healey to unveil cautious budget amid £9 bln fiscal headroom loss
John Healey faces narrowing fiscal headroom as higher debt costs and spending commitments erode £23.6 bln buffer ahead of October 28 budget. Defense spending targets and windfall taxes on banks and energy firms under review.
Australia household spending rises 1.1% in July, fastest since 2023
Monthly household spending in Australia increased for a third straight month in July, supported by gains in recreation, food and health services, data from the Australian Bureau of Statistics showed.
U.S. debt surge reshapes bond market expectations amid rising rates
Total U.S. debt surpasses $40 trillion as deficits near 6% of GDP, prompting bond investors to reassess long-term borrowing costs and fiscal sustainability.
U.S. core PCE inflation holds at 3.3% in July, matching forecasts
Analysts see sticky services inflation as a key risk, with Fed policy focus shifting to Jackson Hole and September FOMC meeting. Consumer spending growth adjusted for inflation flat.
Wolfe Research forecasts August payrolls growth of 65,000 jobs
Nonfarm payrolls seen rising by 65,000 in August, outpacing consensus, while unemployment rate edges up to 4.16%. Wolfe also expects annual revisions to add 180,000 jobs.
China’s industrial profit growth slows to 11.2% in July amid AI sector surge
July industrial profit growth cooled to 11.2% year-on-year, down from 15.1% in June, as AI-linked sectors surged while domestic demand lagged. Cumulative growth over seven months eased to 17.6%.
German consumer sentiment improves for fourth straight month in August
Index rises to -26.6 in September from -29.4 in August, outpacing analyst forecasts as economic and income expectations rebound.
German Ifo business climate index rises more than expected in August
The Ifo Business Climate Index climbed to 88.8 in August, its fourth consecutive monthly gain, as uncertainty eased despite rising energy costs and geopolitical risks.
Norway’s mainland GDP growth misses forecasts at 0.3% in Q2
Mainland GDP rose 0.3% quarter-on-quarter, below the 0.4% consensus. Data excludes volatile oil and gas output, Statistics Norway reports.
German business confidence exceeds forecasts in August
Ifo Institute's business climate index rose to 88.8 in August from a revised 86.7 in July, surpassing economists' median estimate of 87.2. Germany's Q2 GDP growth revised up to 0.3% quarter-on-quarter.
German business sentiment jumps to 88.8 in August, Ifo survey shows
Ifo Business Climate Index rose to 88.8 from 86.7 in July, beating forecasts of 87.2, as all sectors reported improvement amid energy price pressures.
Global yields steady as U.S. Treasury liquidity plan eases debt supply
Benchmark borrowing costs retreated after Washington's plan to use $940 billion in cash reserves to fund bond buybacks eased oversupply concerns. Brent crude fell as sanctions on Tehran underwhelmed.
Global bond yields ease as sanctions threat fizzles and Treasury cash plan gains traction
U.S. and European sovereign yields retreated as a widely anticipated sanctions package against Tehran failed to materialize, while a potential Treasury cash drawdown to fund bond buybacks eased supply concerns.
Swiss GDP growth revised up to 1.6% in 2025, BFS reports
Revised data shows Switzerland’s economy expanded 1.6% last year, exceeding prior estimates, while 2024 growth was also adjusted higher to 1.5%.
ECB’s Schnabel urges blockchain adoption to preserve monetary policy role
ECB board member Isabel Schnabel argues at Jackson Hole that tokenized central bank money could enhance policy flexibility and counter private digital currencies. Two ECB projects, Pontes and Appia, are cited as steps toward integration.