How did Italy get into this mess?

July inflation data was slightly better than expected. Both overall and core (ex-food-and-energy) prices increased 0.2% MoM. The headline CPI print marked the first sub-3.0% reading since March 2021.

Despite the ups and downs, the start of earnings season brought mixed results from a handful of major banks, and investors are cautiously optimistic about the market’s trajectory going forward.

The conflict in the Middle East is a new challenge to the global economy and financial markets. In this insight we review the market reaction to the crisis and discuss risks that could lead to repricing.