Bonds: UK no longer one of the world's top debtor countries
These were the movements in some of the most widely followed sovereign bonds on Friday:
US: +1bp (2.49%)
UK: -2bp (2.43%)
Germany: -2bp (0.95%)
France: -2bp (1.29%)
Italy: -5bp (2.35%)
Spain: -7bp (2.15%)
Portugal: +1bp (3.17%)
Japan: +1bp (0.53%)
Eurozone periphery bonds were the clear outperformer on Tuesday after Spain's Constitutional Court acted to block a proposal from the reginal government in Catalonia to hold a referendum on independence.
In the UK, revised data incorporating an updated methodology revealed that Britain's gross domestic product in fact grew by 0.9% quarter-on-quarter in the three months to June, slightly ahead of the 0.8% gain which had been forecast.
Acting as a backdrop, the latest Eurozone consumer price data from Eurostat showed that the core rate of inflation unexpectedly fell in September, to reach a 0.7% year-on-year pace. That was two tenths of a percentage point less than had been expected.
The euro/dollar fell back promptly in reaction to those numbers, ending the day at 1.2630, albeit after hitting an intra-day low of 1.2571.
Acting as a backdrop, data out overnight in Asia, in Japan and China, came in well below economists' forecasts. So did the latest Chicago purchasing managers' survey Stateside, which slipped to 60.5 from 64.3 (consensus: 62).
The S&P Case-Shiller index of house prices in the 20-main US cities rose by 0.6% month-on-month in July (consensus: -0.1%). Versus the same month of a year ago prices were higher by 6.7% (consensus: 7.5%).
Acting as a backdrop, in the latest edition of the IMF's World Economic Outlook the Washington-based lender flagged its concern over the risk of a trend of secular stagnation taking hold in advanced economies. On a brighther note, it highlighted how global current account imbalances had narrod substantially versus pre-crisis levels.
However, so-called stock imbalances have continued to widen, "leaving some debtor economies vulnerable" the IMF said.
To take note of, the United Kingdom was no longer to be found amongst the world's top ten debtor nations in 2013, as opposed to in 2006, before the financial crisis. The stop spot in that ranking of the globe's foulest continues togo to the US, with Spain and Italy close behind.