The beginning of this week was positive and calm in the debt markets. On the one hand, the central bank of Australia raised interest rates by 25 bps and his speech was not too harsh, which continued to reinforce the market sentiment that the Fed could slow down the rate of hikes. However, we also had the publication of the CPI for the Euro Zone, which exceeded expectations reaching 10.7%, which caused a turn in the market, once again widening the sovereign debt curves. The situation in the United States, where the CPI shows signs of at least having peaked, cannot be compared with the situation in Europe, where it grows continuously without the slightest sign of stopping. The 10-year German benchmark closed at levels of 2.11%, while on the periphery the Spanish bond recovered the level of 3.20% and the Italian at 4.24%. During yesterday’s day, conditioned by the All Saints holiday, investors turned their attention to macro data, which showed that job offers in the US unexpectedly increased in September, and the manufacturing PMI rose in October above expectations. These positive data for the economy dampened the market’s enthusiasm, diminishing the chances that the Fed will finally decide to start to reduce the accelerated pace of interest rate hikes. Everyone is still very aware of what might happen at today’s monetary policy meeting, since a rise of 75 bps is discounted and the opposite is complicated. The key is going to be in the tone of Jerome Powell’s speech, so there could be tremendous volatility in either direction. The post The Eurozone CPI exceeds 10% appeared first on Blog Export your value.