Market Momentum Fades After US Long Weekend
The dollar is holding steady, Treasury yields are essentially unchanged, and equity futures are edging higher as US market participants return from the Memorial Day long weekend. Both the pound and euro are trading near the tops of their respective trading ranges as economic growth prospects brighten and expected yield trajectories edge higher. A series of data releases over the last month have provided evidence of a bottoming in both economies, with last week’s purchasing manager indices delivering the clearest view yet into the improvement in sentiment that could underpin growth in the manufacturing and services sectors. The European Central...