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Weekly Focus: Italian Reprise

Oct 05 18, 14:22 GMT

Market movers ahead

The focus in the euro area next week will stay on Italy and the ongoing budget fight. Italian government bonds have come under renewed pressure, as the risk of a new debt crisis in the medium term looms.
The next focal date for markets will be 15 October, which is the deadline for the Italian budget draft to be presented to Brussels.
We expect to see US September CPI figures climb higher to 2.3% y/y. In addition there will be a number of interesting speeches from Fed members.
In China, trade data will shed more light on the effects of the trade war
In Sweden, we expect inflation figures to come out significantly lower than the Riksbank forecast. In Denmark, September inflation is expected to decline.

Global macro and market themes

Global growth is slowing, but inflation pressure is rising.
US bond yields hit a new high.
Italy reignites debt crisis fears.
Trump closes trade deal with Canada and Mexico, but is likely to escalate versus China.

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