Market pricing of a rate cut from the European Central Bank as early as March has withered since the start of the new year. Now, officials seem to be questioning even the notion of a reduction in April — highlighting another pocket of possible mispricing. Also at peril may be traders’ estimate of how low the ECB’s benchmark rate could really go this year. The annual World Economic Forum in Davos doesn’t usually stir the markets, but this time around ECB speakers have been pretty vocal in conveying a central message: that when wage inflation in the euro zone is running at 5%+, investors shouldn’t go overboard in ... (full story)