The first week of June features the Reserve Bank of Australia meeting, an ECB meeting, and the US employment data. The RBA is expected to deliver its first rate cut in three years. The market appears to have discounted not only a second cut in H2 but has priced nearly half of a third cut as well. A soft inflation reading after the seasonal bump in April and disappointing survey data, with Brexit and trade tensions, means the ECB cannot be confident of a second-half recovery. Although officials have signaled that a tiered deposit rate was unlikely, many expect the details of the new targeted two-year loans to be ... (full story)