Europe assuming maximum optionality
Tuesday 28th May 2024
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It\u2019s been a quiet 24 hours with the UK and US on holiday, with the bond and equity markets closed in each place. But Europe was open for business, although the German IFO numbers offered little to get excited about \u2013 staying in the same place as last month. One ECB speaker said after the June rate cut, the central bank will retain \u2018maximum optionality\u2019 \u2013 central bank speak for we\u2019re not sure what happens next. NAB\u2019s Rodrigo Catril guides us through the data, and the commentary from the ECB and the BoJ. Australia\u2019s retail sales numbers are out this morning, along with producer prices for Japan, and the Conference Board\u2019s Consumer Confidence report out tonight in the US.
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