European bond markets bought off as inventory markets bounced. Bundesbank President Nagel warned yesterday that central banks should not reply to greater inflation with “too little, too late” and that “if financial coverage falls behind the curve, even stronger hikes in rates of interest may change into essential to get inflation below management” which might result in greater financial prices. German Ifo enterprise confidence numbers got here in weaker than anticipated this morning, which along with the disappointing PMI stories yesterday added to recession fears, however for now inventory market sentiment is wanting a bit brighter.
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Stuart Cowell
Head Market Analyst
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