(CercleFinance.com) - No "macro" figures, no figures in Europe (just China, which is seeing its GDP slow to 4.7%), but Friday's favorable trend continues in Europe: the satisfactory evolution of inflation, in the United States as in Europe, reassured the bond markets last week, paving the way for possible monetary easing measures between now and the end of the year (2 to 3 in the United States, 2 in Europe).

In France, the 10-year OAT rate is now hovering around 3.11%, while the German equivalent is at 2.47% and Italian BTPs are down -3pts to 3.75%
In the US, US T-Bonds are yielding 4.202% (+2.5 basis points), but the 2-year is down -2.5pts to 4.435%.
Across the Channel, Gilts got off to a poor start this week, gaining 3.63 basis points to 4.148% and returning to their July 9 levels.

Central banks will be in the spotlight again this week, with Thursday's meeting of the European Central Bank (ECB), its last before the summer break.

Investors are likely to be looking for further indications of the possibility of another rate cut in September.


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