UK Macro Daily(Beta Mode)
UK Lending Misses Weigh on Markets
| Prior Close | ||
|---|---|---|
| Asset | Level | Days Change |
| S&P 500 | 6,849.09 | 0.00% |
| FTSE 100 | 9,702.53 | -0.18% |
| UK Natural Gas | 2.85 | +0.75% |
| 2 Year Gilt | 3.75 | +1 bps |
| 10 Year Gilt | 4.49 | +3 bps |
| GBP/USD | 1.321 | -0.02% |
| GBP/EUR | 1.14 | -0.01% |
| GBP/JPY | 205.78 | +0.19% |
| Brent Oil | 64.22 | +1.31% |
| Gold ($) | 2,500.00 | +1.50% |
| Bitcoin ($) | 86,916.77 | +0.73% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| BoE Consumer Credit | 1.4m | 1.4m | 1.1m |
| Mortgage Approvals | 65,650 | 64,200 | 65,020 |
| Mortgage Lending Level | 5.2m | 4.5m | 4.3m |
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| Nationwide Housing Prices m/m | 0.30 | 0 | 07:00 |
| Nationwide Housing Prices y/y | 2.40 | 1.40 | 07:00 |
- BoE Consumer Credit slumped to £1.12B, missing consensus and signaling weaker household borrowing amid high rates.
- Mortgage Approvals beat expectations at 65,020, but Mortgage Lending fell short, capping housing activity.
- Calm markets saw FTSE dip 0.18%, with Gilts and Sterling steady as investors digest mixed credit data.
Yesterday's Recap
UK consumer credit plunged to £1.12B, undershooting consensus of £1.35B and prior £1.4B, reflecting strained household finances.
Mortgage approvals rose to 65,020, surpassing expectations of 64,200, but lending levels dropped to £42.7B against £45B consensus, tempering housing optimism.
Markets remained calm, with FTSE 100 edging down 0.18% to 9,702.53.
Gilt yields ticked up modestly, 2-year at 3.75% (+1bps) and 10-year at 4.49% (+3bps).
Sterling traded flat, GBP/USD at 1.321 (-0.02%), amid low volatility.
The Day Ahead
Nationwide housing prices report at 07:00 may reveal monthly and yearly changes, with consensus at 0.0% m/m and 1.4% y/y.
Investors will scrutinize for trends in property market resilience.
No BoE speeches scheduled, leaving focus on European data for spillover effects.
Other Economic Notes
UK pension funds continue divesting U.S. equities over AI bubble fears, echoing BoE warnings on market risks.
Japan's consumer confidence surged to 37.5, boosting global sentiment but not directly impacting UK exports.
