The week began with European investors in a risk off mood. Eurozone government bond yields rose on fresh hawkish
comments from several ECB officials, including Lagarde, who emphasized the idea that the ECB could wait several meetings between cuts.
In this context, Eurozone equity indices fell, with the CAC40 leading the move, weighed down by Macron's call for early
elections, and the euro weakened, depreciating against the dollar and falling below 1.08.
Elsewhere, in the US, bonds were mixed and equities posted small gains as investors await Wednesday's CPI report and
the Fed meeting. And, in Japan, equities rose and the JPY weakened after Q1 GDP fell less than initially reported.
In commodities, oil prices rose on hopes of higher global demand over the summer, despite a stronger USD and renewed
expectations of prolonged higher interest rates in Europe and the US.