Growth ahead!

Editorial This week’s PMIs showed accelerating growth in the early summer. Next week, the markets will focus on inflation figures and the US NFP on Friday. Despite recent dovish statements by various central bankers, the materialisation of a strong macroeconomic rebound could trigger a rise in bond yields, starting next week. The markets are trying to figure out what various central banks will do in terms of tapering to position themselves. So we are getting ready for a “Cruel Summer” as Bananarama would say.