ECB Pushed to Ease Further as Inflation Weaker than Expected

Market sentiment damped by a number events happed in the US and Europe. In the US, encouraging jobless claims and regional Fed surveys were offset by disappointing NAHB, IP and real wages data. In Europe, civil war in Ukraine loomed and it’s likely that Russia would intervene. Eurozone’s GDP growth surprised to the downside. While this should raise the likelihood of ECB’s action in June, bond yields soared with 10-year bunds as well as Italian, Spanish, Portuguese and Greek yields rising sharply.

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ECB Pushed to Ease Further as Inflation Weaker than Expected