Stock markets across the US, the West and in Asia ended last week in the red, the 10-year Treasury yield rose to its highest level since November 2023, and the Vix index, Wall Street’s fear gauge, also rose to its highest level since early November after remaining subdued for most of Q1. This week’s economic data will be crucial in determining where financial markets go next, and it could give us a good steer on the timing of interest rate cuts in the US and the Eurozone.
meeting minutes, producer prices, import prices and consumer confidence data will also be worth watching in the US this week. UK In the UK, the focus will be on the monthly GDP data for February that will be released on Friday. The market expects a small uptick of 0.1% for February, which is down from the 0.2% increase in January, but if true it will add to the view that the UK’s flirtation with recession was only brief.