Following the latest labour market data, we do not change our baseline scenario of two more rate hikes this year, though latest data give some conflicting signals regarding future Federal Reserve policy.
Our British colleagues at Neuberger Berman tell us this is one of the most unusual UK general elections for a generation, in terms of both the manifestos on offer and the dramatic swing in opinion polls.
The French government has made its first proposals to reform the labor market. Its main idea is that competitive conditions have dramatically changed and it’s impossible to have a law that can solve all the issues.
Theresa May has currently a majority of 5 conservative seats in the parliament. This is a very narrow margin, which means she has to have the entire Tory party on board in order to be able to pass legislation.