UK: Collapse Less Apocalyptic than Feared
UK GDP’s collapse in Mar-20 did not match the almost apocalyptic depths that the Consensus feared. Its 5.8% m-o-m decline is dire, but close to my...
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HSBC Holdings - Fire Sale Time
*Gross Operating Revenues Do NOT Cover Recurring Costs At HSBCNA: HSBC Holdings plc (HSBC) [5.HK/HSBA.LN] is a complete and utter mess. Nowhere is...
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BoE: Going Late and Large in June
The BoE made no policy change at its May meeting, but two members dissented for £100bn more QE and the flow outlook seems undiminished. Governor...
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BoE: Raising Stock to Sustain the Flow
The prevailing state of the UK economy is unrecognisable relative to the BoE's last monetary policy report. Substantial downgrades are...
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UK: IP Slams into Shutdown During Apr-20
The UK manufacturing PMI only dipped 3.9-points in March, but it dived 15-points to 32.6 in Apr-20 as supply-shortages during the shutdown...
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