Euro area inflation likely rose to another record high of 7.6% in May, versus 7.4% in April, a "flash" estimate on Tuesday is forecast to show.
The United States, Canada and New Zealand have opted for larger 50-bps rate hikes, given inflationary pressures they had underestimated. The ECB hasn't kicked off its hiking cycle yet and with inflation well above its 2% target, it may be time to get moving.The sell-in-May-and-go-away adage applies to equities and yes, investors dumped stocks, especially those listed on the tech-heavy NasdaqBut softer data have brought buyers back to bonds, so equities have bounced.
June will bring more of the same - a 50-bps rate hike in Canada and the United States, and a likely quarter-point Bank of England move. Rate-hike laggards, the ECB and Switzerland, should lay out policy-tightening plans.
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