European Rates and Economics Daily

RBC provides a daily update on European rates, noting hawkish comments from ECB's Nagel and the confirmation of Kevin Warsh to the Fed. France reported a surprise rise in unemployment, while markets look forward to US PPI data.

Key Takeaways

• 1.ECB's Joachim Nagel indicated that interest-rate hikes are becoming increasingly likely due to high energy prices and Middle East tensions.
• 2.Kevin Warsh was confirmed to the Federal Reserve Board of Governors, with expectations to be confirmed as Chairman later today.
• 3.French unemployment unexpectedly rose to 8.1% in Q1 2026, missing consensus estimates of 7.8%.

Table of Contents

• Overnight news
• Data and events
• RBC growth and inflation forecasts
• RBC yield forecasts
• Central bank market pricing and RBC forecasts
• RBC RV Quadrant

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