- Macro: Markets struggled for direction yesterday as investors await the outcome of key US inflation data later this week. Both European equities and the S&P 500 ended the day broadly flat, the Nasdaq however ended modestly in the green. From an economic perspective, in Europe at 10.00, the ZEW Survey is expected to indicate that investor sentiment in Europe’s largest economy picked up in May to 46.4 (Prior: 42.9). In the US, market participants will pay close attention to the NIFB Small Business Optimism Survey at 11.00 and producer price data for April at 13.30, with the core read expected to moderate to 2.3% YoY (Prior: 2.4%).
- Stock: There were earnings updates from DCC and Flutter Entertainment . (Comments Attached)
- Debt: Core bond yields were flat yesterday on a quiet day of economic data.
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