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|07:45||France||GDP, q/q||Quarter IV||18.7%||-1.3%||-1.4%|
|08:00||Switzerland||Gross Domestic Product (YoY)||Quarter IV||-1.4%||-2.1%||-1.6%|
|08:00||Switzerland||KOF Leading Indicator||February||96.5||96.6||102.7|
|08:00||Switzerland||Gross Domestic Product (QoQ)||Quarter IV||7.6%||0%||0.3%|
|12:30||United Kingdom||MPC Member Ramsden Speaks|
GBP retreated against most of its major counterparts in the European session on Friday as expectations of improving economic conditions and fears of accelerating inflation triggered a sell-off in global bond markets, sending yields to pre-pandemic levels. Market participants increasingly have become worried that faster inflation could prompt the central banks to hike interest rates as well.
The yield on the benchmark 10-year U.S. Treasury notes briefly jumped as high as 1.6% on Thursday, their highest level since February 2020, but then backpedaled somewhat. The 10-year yield is now holding near 1.48%, up more than 50 basis points since the year started.
The Bank of England's (BoE) chief economist Andy Haldane acknowledged on Friday that "there is a tangible risk inflation proves more difficult to tame", which could force policymakers to "act more assertively than is currently priced into financial markets".