1/ BACK TO WORK
Next Friday's U.S. employment report will allow investors to gauge whether a powerful U.S. recovery could push the Federal Reserve to start unwinding ultra-easy monetary policies sooner than expected.
Euro zone inflation zipped above its near-2% target in May and ECB chief economist Philip Lane is confident there is no new paradigm -- wage growth after all remains weak. The second half looks harder to call. More virulent COVID strains keep pandemic experts nervy, China's powerhouse economy looks to be slowing, the commodity and food price surge drives up inflation. That makes it harder for major economies to justify more stimulus, while a number of emerging markets are hiking rates as a precaution.4/ FLYING IPOS HIT TURBULENCE
But Nordgold aborting its debut might be the first casualty of expected central bank tightening as the hawkish Fed pushed gold 6% lower. With Wise embarking on its road show and a huge pipeline of IPO candidates lining up for September, the question is if there will be more.The chorus of China bulls has quietened down a bit if the thicket of outlook slideshows so far is any guide.
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