A raft of U.S. data and European inflation numbers will give guidance on how the world's top central banks will navigate the way ahead - including whether we're heading for that hotly debated 'no landing' scenario.China's post Lunar New Year business activity data will give a reading of the health of the
A raft of U.S. data and European inflation numbers will give guidance on how the world's top central banks will navigate the way ahead - including whether we're heading for that hotly debated"no landing" scenario.
Evidence of a stronger-than-expected economy has forced investors to recalibrate projections for Fed hawkishness, lifting bond yields and weighing on stock gains. The S&P 500 has managed to hang on to a 4.5 per cent year-to-date gain but is well off its highs. China has reopened from COVID lockdowns, U.S. labour markets are booming and consumer spending is holding up, while Europe's energy crisis has eased.
Graphic 2: Economic growth forecasts turn higher, https://www.reuters.com/graphics/GLOBAL-MARKETS/zdvxdxojnvx/chart.pngIt's inflation week in the euro area. Preliminary February data from Germany, France, Spain and Portugal are due on Monday and Tuesday, followed by the bloc-wide flash number on Thursday.
Markets have got the message and renewed bets on the ECB 2.5 per cent depo rate moving higher. Deutsche Bank just raised its forecast for the peak in ECB rates to 3.75 per cent from 3.25 per cent. Retail investors are sitting out the stocks rally, and the recent disappearance of star Chinese dealmaker Bao Fan has investors worrying that Beijing's regulatory crackdowns are far from over. Escalating tensions between Washington and Beijing over a suspected Chinese spy balloon and Taiwan loom large over the China investment thesis.
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