Topic: Europe

GBP soars on narrative change, disinflation shifts pressure from ECB to Euro, and Fed’s June meeting is plagued by uncertainty.

Disinflation is coming to Europe, US yields tumble after 12-day streak, and Chinese data pressures global equities.

Markets cheer US debt limit extension, euro now negative year-to-date, and UK shop inflation hits another record.

Euro unresponsive to higher yields, yield explosion unable to help the pound, and treasury cash reserves plunge below $50 billion.

Pause, hike, cut. The dynamics of Fed pricing. Mood darkens in Germany and the pound’s bipolar reaction to CPI.

Stubborn UK inflation fuels rate-hike bets whilst dollar is steady amid haven demand and hawkish signals. Euro becoming numb to hawkish ECB speak.