Daily Market Notes
The Headline Beat Both Our Consensus Figures. The Core We Barely Mentioned Was Exact.
Euro-area flash inflation printed 3.8 per cent against the 3.7 we published and the 3.6 one publisher carried — so the tenth of a point we logged as an open item was the same size as the smaller miss and half the larger. Core printed 2.5, exactly the figure we published and then ignored. Which field your news filter reads decides whether today was an event at all. Payrolls at 12:30 now has five consensus values, and the July prior the market traded on has been revised from minus 23,000 to plus 21,000 — a sign flip. One calendar's ADP cell has read as a future event for 47 hours and 43 minutes.