📆 Wednesday, July 19
► The GBP and UK bond yields have weakened as inflation in the UK slowed more than expected, prompting speculation about future interest rate hikes by the Bank of England.
► The UK inflation rate fell to still very high 7.9% in June, below the expected 8.2% – the lowest since March 2022, offering the Bank of England a small scope to continue its policy tightening campaign despite rates remaining above the 2% target. This resulted in a slide in the GBP and a decline in the yield on two-year UK government bonds.
► European and UK stocks advanced, with real estate stocks leading gains in anticipation of less-aggressive rate hikes. While, US stock futures remained flat in early pre-market trading, but Wall Street closed near session and 2023 highs on Tuesday.
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