European stocks edged higher overnight as the ECB joined the chorus of central banks now talking about less aggressive interest rate hikes. They say central bankers make sheep look like independent thinkers and bar New Zealand, which is quite ironic, it seems to MM that there is a coordinated shift in the dialogue. The Australian 10 year bond yield is now 0.7% below it’s October peak.
- We are bullish on UK stocks into Christmas, the new highs seem very likely.
MM remains mildly bullish on UK equities into Christmas
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