A look at the day ahead in European and global markets from Anshuman Daga
of FTX's former CEO Sam Bankman-Fried in the Bahamas at the behest of U.S. prosecutors, just a month after the cryptocurrency exchange filed for bankruptcy, is turning out to be the headline of the day.
And for financial markets caught in a holding pattern, U.S. inflation data due later on Tuesday is shaping up as a key event, probably more important for the outlook than tomorrow'sAsian stocks were in a wait-and-watch mood on Tuesday while the dollar, which has been lifted by high and rising interest rate expectations, held firm.
In Europe, markets will focus on economic sentiment data from Germany, the region's biggest economy, where the ZEW survey will be released. Inflation data is also due out in Germany.to risks of further increases in borrowing costs hurting economies, although central banks are beginning to slow their aggressive rate rises.
Runaway inflation has forced developed economies to raise borrowing costs by a combined 25.15 percentage points this cycle, the most aggressive in decades. The rate of price increases is beginning to slow in the United States but investors need more evidence to underscore that trend, which could limit any policy shocks from the Fed.
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