Equity markets were mixed and bond yields retreated as ECB forum comments disappointed hawkish expectations. Euro area inflation data surprised to the downside, supporting a softening in the ECB's tightening narrative.
Key Takeaways
- 1.US bond yields reversed early gains after comments by Kevin Warsh failed to meet hawkish market expectations.
- 2.Euro area inflation data for June surprised to the downside, with headline inflation falling to 2.8% and core inflation to 2.4%.
- 3.ECB policymakers are signaling a shift away from urgency for further policy tightening due to balanced growth/inflation risks.
Table of Contents
- Highlights
- Data and events today
- Financial markets
- Global markets overview
- Key data and events
- Key themes and views
- Market snapshot (07:15 NZ Time)
- Key data releases
- What's ahead today
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Authors
Matthew GaltHenry Russell
Securities
S&P 500XAU
Themes
Central Bank PolicyInflation Dynamics
Regions
EuropeUnited StatesNew ZealandAustralia