Monetary Policy

US-Verbraucherpreise Juli; Konsens 3,4% YoY erwartet Microsoft Word - aktuelles-devisentelegramm.docx Devisentelegramm Die Ausarbeitung informiert über allgemein bekannte Sachverhalte. Die Einschätzungen und Bewertungen reflektieren die Meinung des Verfassers und ersetzen nicht eine individuelle und anlagegerechte Beratung. Bei der Ausarbeitung und Erhebung der Daten ist die größtmögliche Sorgfalt verwendet worden. Die getroffenen Aussagen basieren auf Beurteilung / Einschätzung der Daten zum Zeitpunkt der Erstellung. Herausgeber: Hamburger Sparkasse, Treasury / Devisenhandel. 12.08.2026 08:12 Aktuelle Kurse ...

Statistisches Bundesamt Inflationsrate in Deutschland Juli 2026 2,8%; Energie- und Kraftstoffpreise treiben Inflation deutlich NORD/LB am Morgen stellt eine Übersicht und Zusammenfassung ausgewählter Berichte und Meldungen dar. Research NORD/LB am Morgen August 2026 Research NORD/LB am Morgen 13. August 2026 Marktdaten 12.08.2026 11.08.2026 31.12.2025 Ytd % DAX 26.331,07 26.391,42 24.490,41 7,5 MDAX 32.335,17 32.224,89 30.617,67 5,6 TECDAX 4.067,62 4.090,18 3.622,27 12,3 EURO STOXX 50 6.533,99 6.551,22 5.791,41 12,8 STOXX 50 5.527,02 5.548,17 4.918,02 12,4 DOW JONES IND. 53.770,27 53.791,85 48.063,29 11,9 S&P 500 7.748,50 7.728,20 6.845,50 13,2 MCSI World 5.008,52 4.995,78 4.430,38 13,0 MSCI EM 1.681,90 1.665,44 1.404,37 19,8 NIKKEI 225 67.524,06 66.970,22 50.339,48 34,1 Euro in USD 1,1527 1,1542 1,1745 -1,9 Euro in YEN 183,71 183,85 183,58 0,1 Euro in GBP 0,8541 0,8544 0,8717 -2,0 Bitcoin (USD) 63.390,56 63.557,26 87.598,39 -27,6 Gold (USD) 4.405,94 4.365,63 4.319,37 2,0 Rohöl (Brent ICE USD) 88,98 88,91 60,85 46,2 CO2 Emissionsrechte 81,99 82,44 87,37 -6,2 Bund-Future 124,74 124,82 127,57 ...

Investors in emerging market debt in Latin America; +12.6% YTD in Latin America. Emerging market debt remains resilient as uncertainty tests markets Emerging market debt remains resilient as uncertainty tests markets Strong investor demand is helping performance overall, while divergence continues between commodity-exporting economies and those exposed to oil supply disruption. Despite the recent mild correction, emerging markets debt (EMD) continues to demonstrate resilience amid exceptionally uncertain global macroeconomic, monetary and geopolitical backdrops. This resilience is reflected in the sustained inflows into the asset class, as shown in the chart below. Improving demand from foreign investors has helped maintain the strong outperformance recorded over the past three years. This favourable performance trajectory has also remained firmly in place despite recent renewed upward pressure on developed market bond yields. ...

Schroders warns global markets of rising long-term yields; central-bank credibility concerns push yields higher Economic and Strategy Viewpoint - Q3 2026 Economic and Strategy Viewpoint - Q3 2026 Despite fading macro fears, the biggest risk to markets may come from rising long-term yields as concerns over central bank credibility intensify. Having brushed off the Iran shock, we continue to believe that the global economy will deliver solid growth over the coming years and that inflation is the bigger concern. Accordingly, rather than recession, the biggest threat to risk assets is that question marks over central bank credibility cause long term yields to surge higher. ...

Global economy to deliver solid growth worldwide; long-term yields surge on credibility concerns Economic and Strategy Viewpoint - Q3 2026 Economic and Strategy Viewpoint - Q3 2026 Despite fading macro fears, the biggest risk to markets may come from rising long-term yields as concerns over central bank credibility intensify. Having brushed off the Iran shock, we continue to believe that the global economy will deliver solid growth over the coming years and that inflation is the bigger concern. Accordingly, rather than recession, the biggest threat to risk assets is that question marks over central bank credibility cause long term yields to surge higher. ...

Fed Chair Kevin Warsh sees payrolls easing in US; CPI/PPI tests to decide September rate path Weekly bond market update: Payrolls throw Warsh a lifeline Weekly bond market update: Payrolls throw Warsh a lifeline A soft jobs report eased the pressure after July’s FOMC stumble, but inflation will still decide what comes next. The softer jobs report provided Fed Chair Kevin Warsh with a needed reprieve after the poor market reception to July’s FOMC communication, giving the Fed room to stay patient. ...

Schroders Insights Economic and Strategy Viewpoint Q3 2026 Global; long-term yields rise due to credibility concerns Economic and Strategy Viewpoint - Q3 2026 Economic and Strategy Viewpoint - Q3 2026 Despite fading macro fears, the biggest risk to markets may come from rising long-term yields as concerns over central bank credibility intensify. Having brushed off the Iran shock, we continue to believe that the global economy will deliver solid growth over the coming years and that inflation is the bigger concern. Accordingly, rather than recession, the biggest threat to risk assets is that question marks over central bank credibility cause long term yields to surge higher. ...

Fed Chair Kevin Warsh gains reprieve from July payrolls in US; Fed room to stay patient amid data risk Weekly bond market update: Payrolls throw Warsh a lifeline Weekly bond market update: Payrolls throw Warsh a lifeline A soft jobs report eased the pressure after July’s FOMC stumble, but inflation will still decide what comes next. The softer jobs report provided Fed Chair Kevin Warsh with a needed reprieve after the poor market reception to July’s FOMC communication, giving the Fed room to stay patient. ...

Schroders’ investment teams forecast Fed rate hikes in the United States; long-term yields to rise amid credibility concerns Economic and Strategy Viewpoint - Q3 2026 Economic and Strategy Viewpoint - Q3 2026 Despite fading macro fears, the biggest risk to markets may come from rising long-term yields as concerns over central bank credibility intensify. Having brushed off the Iran shock, we continue to believe that the global economy will deliver solid growth over the coming years and that inflation is the bigger concern. Accordingly, rather than recession, the biggest threat to risk assets is that question marks over central bank credibility cause long term yields to surge higher. ...

Emerging market debt remains resilient worldwide; Latin America leads with +12.6% YTD Emerging market debt remains resilient as uncertainty tests markets Emerging market debt remains resilient as uncertainty tests markets Strong investor demand is helping performance overall, while divergence continues between commodity-exporting economies and those exposed to oil supply disruption. Despite the recent mild correction, emerging markets debt (EMD) continues to demonstrate resilience amid exceptionally uncertain global macroeconomic, monetary and geopolitical backdrops. This resilience is reflected in the sustained inflows into the asset class, as shown in the chart below. Improving demand from foreign investors has helped maintain the strong outperformance recorded over the past three years. This favourable performance trajectory has also remained firmly in place despite recent renewed upward pressure on developed market bond yields. ...