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ECB jumps on the bandwagon to start hiking rates
Geopolitical tensions between Russia and Europe remain heightened, with gas supplies restricted by Russia’s political posturing. Meanwhile, US Speaker of the House of Representatives Nancy Pelosi’s visit to Taiwan has caused some shockwaves and signalled a deterioration in US-China relations.
Global equities sold off hard into the end of last week as inflation and growth fears continued to weigh on sentiment.
The European Central Bank held its June meeting this past week, and while it didn’t raise interest rates this time, it signaled rate hikes would begin in July. David Zahn, our Head of European Fixed Income, offers his take on the meeting, noting the central bank has turned more hawkish than many expected.
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