UK: Unemployment Still Resists Rising in Apr-20
The unemployment rate remained at 3.9% in April, contrary to all expectations, including my forecast from the consensus’ bullish fringe. The UR is...
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UK: GDP Mirrors Retail Crash in April-20
UK GDP collapsed by 20.4% m-o-m in April-20 as the economy endured the most intense phase of total lockdown. The 3.5 times greater fall in April...
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BoE: Refilling Gilt Buckets with Revisions
The depths of UK depression do not seem as deep as the BoE expected, but it is still an enormous shock that monetary policy needs to maintain...
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UK: Industrial Bounce-Back Begins in May-20
The UK manufacturing PMI rebounded by 8.1-points in May-20 to 40.7, while the output balance rose 18.7-points to 35. Resurgent demand from...
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HSBC Holdings – Letting A Good Crisis Go To Waste
*FT Suggests Sea Change In US Strategy: In a Financial Times article dated May 25th“HSBC board rethinks overhaul and seeks even sharper cuts”, it...
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