Euro-zone GDP growth was revised down to 0.4% in the updated flash Q4 reading from the provisional 0.5% which will tend to dampen expectations that the Euro-zone economy is gaining momentum.
There was also a weaker than expected reading for the German ZEW investor sentiment index, although the overall market impact was limited.
A different Euro-vision A late start to monetary tightening versus the rest of the world could deliver the some-what illusive stronger Euro to markets. A delay to hike rates in Europe has left the ECB playing catch up, with interest rates lagging noticeably behind their peers. Since its inception over 20 years ago, the Eurozone […]
European Central Bank Yesterday the ECB duly raised its interest rates by 25bps. President Lagarde maintained that the ECB was on a journey and had not yet arrived-some would, given that ECB inflation is not dropping and is stuck at 6.9%, interpret that analogy as being their firm intention to continue to raise rates given […]
US Government Default on June 1 without a hike in the Debt Ceiling Markets (so far) are remarkably sanguine about this appalling scenario for the US and therefore the global economy. President Biden and the Republican House Speaker have not discussed this issue since February-and the Speaker is currently in Jerusalem so unable to meet […]