A look at the day ahead in European and global markets from Anshuman Daga:Is it really good news? Probably yes, probably not.Economies from the United States to Germany to Britain are showing an unexpected pick-up in business activity, but markets are again giving a thumbs-down to these indicators.
Is it really good news? Probably yes, probably not.
Fed funds futures traders are now pricing for the Fed's benchmark overnight interest rate to reach 5.36 per cent in July and end the year at 5.18 per cent. Markets will scrutinise it for signs on how high officials project interest rates will go following recent data that showed stronger-than-expected U.S. employment and consumer prices.
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