Morning Bid: Rates frustration spoils markets' Friday mood
A look at the day ahead in European and global markets from Ankur Banerjee)'s strong results didn't last long as fears that interest rates would stay higher for longer once again dampened the AI rally.
The Bank of England also has to contend with UK inflation that slowed less than expected in April. Markets are now pricing in 30 basis points of cuts this year, with expectations BOE is most likely to start cutting rates at its September meeting though markets are not ruling out August, both after the election.
The ECB has long pinned rate cut hopes on this crucial wage figure but has essentially committed to policy easing on June 6, so the fresh number is more likely to influence policy decisions later in the year. In corporate news, the focus will be on Hargreaves Lansdown after Reuters reported the UK retail investment platform's biggest shareholder, Peter Hargreaves, was open to taking the company private.Economic events: Germany Q1 GDP, UK April retail sales, Sweden April PPIRisk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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