Sterling rallies against the euro as Britain heads to the polls
Sterling has bucked up against the euro, hours after polling began in the UK general election and ahead of the imminent European Central Bank meeting.
ECB
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Markets ‘march on’ and euro gains on dollar after Macron win
Financial markets were buoyed by Emmanuel Macron’s victory in the French presidential election, as the euro soared against the greenback.
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PA ANALYSIS: Why backing Europe is now a consensus call
Adversity is best tackled face on, and so the big call this year has been to overweight Europe, despite the uncertain geopolitical picture.
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‘Confusing’ Draghi speech confirms ECB to hold rates
ECB president Mario Draghi confirmed European interest rates would remain unchanged on Thursday, in what senior investment managers described as a “confusing” performance.
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Rising eurozone inflation not enough to turn off QE taps
Eurozone inflation rose at its fastest pace since January 2013, but the divergence between the headline and core inflation figures means the European Central Bank will be reticent to loosen monetary policy.
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European government bond prices on decline despite scarcity claims
Suspicions have been raised about European bond scarcity, but rising yields and declining prices point to further volatility, said Julius Baer head of fixed income, Markus Allenspach.
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Politically charged eurozone offers high yield and equities bargains – Brooks Macdonald
Although a shadow of political risk hovers over Europe, those keen to invest in the region can take advantage of some resilient high yield bonds and relatively cheap stocks, according to Brooks Macdonald head of research Richard Larner.
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Eurozone inflation hits 0.6%
Eurozone inflation followed analysts’ predictions and continued its steady rise to hit 0.6% in November.
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PA ANALYSIS: Why policy makers are passing the buck to politicians
A few years ago, it was de rigueur to talk up a supposed decoupling of developed and emerging markets, but for central banks there is now a more disconcerting separation at play.
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M&G’s Woolnough cutting down on sterling
M&G Investments’ Richard Woolnough has said he sees a move away from the UK as a capital markets centre in favour of the US developing, and is tweaking his fund’s holdings accordingly.
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PA ANALYSIS: ECB acts but Japan lesson looms large
While EU leaders unveiled plans for a new €321m state-of-the-art ‘Europa’ Brussels HQ, over in Frankfurt the ECB was building its own foundations for change.
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ECB could fall into QE ‘limbo’ – Pimco
Pimco has warned the European Central Bank (ECB) it could fall into a monetary policy “limbo” situation – unable to exit because it wishes to keep government bond yields sustainable, yet unable to continue in case it oversteps its mandate.