Latest data released by Eurostat - 31 May 2018
- Prior +0.7%
- CPI +1.9% vs +1.6% y/y expected
- Prior +1.2%
A beat relative to expectations, that bodes well for the ECB to move into a more positive tone as we head into the June meeting.
The euro is barely changed from the data, but the rebound here is much expected after accounting for Easter seasonality and the fact that we saw rebound in Germany figures yesterday and France figures earlier today.
But German 10-year yields are now inching higher, up 4 bps to 0.41%.
