European markets opened slightly higher on Thursday as traders digest the minutes of the last U.S. Federal Reserve meeting.
U.K. markets will be closely watched Thursday after Prime Minister Rishi Sunak announced that a general election will be held on July 4, ending months of speculation over the date of a national vote. As polls stand, the ruling Conservative Party is expected to lose to the opposition center-left Labour Party.Traders will also be keeping a close eye on the latest preliminary data from the euro zone indicating business activity in the services and manufacturing sectors in May.
Family offices have increased their investments to developed market fixed income by the largest amount seen in five years, according to a new study by UBS. Here's how family offices are investing this year and how they plan to change their allocations in the next five years.The hawkish tone of the minutes from the Federal Reserve's latest meeting indicates"higher for longer is the official mantra," said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance.
"Participants observed that while inflation had eased over the past year, in recent months there had been a lack of further progress toward the Committee's 2 percent objective,""Various participants mentioned a willingness to tighten policy further should risks to inflation materialize in a way that such an action became appropriate," the minutes added.
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