Economic Indicators: Tom Essaye Quoted in Barron’s
Gloomy Economic Data Weigh on European Trading
Economic indicators such as, “U.K. GDP dropped…after hot wage data yesterday, bolstering stagflation fears while EU Industrial Production fell,” said Tom Essaye, the founder of Sevens Report Research.
“Despite the recently soft data, rates markets continue to price in a 75% chance of an ECB rate hike this week.”
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