LONDON - Investors have gone from bracing for a U.S. recession to positioning for the world's biggest economy to keep chugging along.
Traders have gone from expecting six or seven Fed rate cuts at the start of the year to two currently. While the European Central Bank is expected to deliver a June rate cut, with inflation in the bloc at 2.4% in April, rate cut bets have also been pared back. Stocks and the economy have a mercurial relationship: sometimes good U.S. data has boosted equities, other times it has dented them. Some strategists believe the jump in U.S. borrowing costs has yet to fully register.
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