- FTSE 100 down 66 points at 7,657
- House prices rise for third month in a row
- Endeavour Mining slumps after sacking CEO
10:05am: Morgan Stanley (NYSE:MS) sticks with May rate cut call, risks skewed to later move
The debate over when interest rates will be cut seems to be dominating the mood this week with over optimistic hopes being pared back.
Russ Mould, investment director at AJ Bell noted “rate cuts now look as if they are going to be a story for the middle of the year and that’s prompted investors to temporarily pause for thought, leading to bouts of profit taking from the recent rally.”
Morgan Stanley (NYSE:MS)’s Bruna Skarica is sticking with her call for the first UK rate cut to be in May but admits risks are “skewed towards a later start to BoE cuts.”
She explained this reflected the ‘house call’ for the Fed and the ECB to move in June, not March/April as the market is currently pricing.
In…
