– Daily Commentary BY THE CURVE TEAM –

Daily Insights – Capex Resilient

27th of August, 2021

Capex remained resilient ahead of latest round of lockdowns

  • Capital expenditure for the second quarter rose 4.4% against expectations of a 2.6% rise
  • Building and Structures expenditure was up 4.6% with Equipment, Plant and Machinery up 4.3%
  • Estimated Capex for 2021-22 rose 12.5% from the previous quarters estimate.
  • These estimates could be subject to significant revisions due to current lockdown restrictions

Retail sales

  • Retail sales for July are set for release today with a fall of 2.5% expected.

Jackson Hole

  • The US Federal Reserve will meet for the annual symposium at Jackson Hole tonight where the market is hanging on any update for the plan to taper QE

David Flanagan

Head of Money Markets