The ECB takes the bull by the horns. The Fed will likely be forced to follow
The ECB has already started to increase its asset purchases in order to address rising bond yields. There has been a curious respite on the…
Purchasing managers’ indices continue to be close or at historical highs in the manufacturing industry, pointing to strong growth in this sector. The small decline in the US ISM only shows that activity has ceased to accelerate in April. Bond yields are marginally down and the USD is rather stable: the EUR/USD exchange rate is trading in a narrow range around 1.2030.
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