What's Notable This Week:
• Our economists see a risk of Italy's ratings outlook being changed to negative by DBRS on Friday. However, a downgrade from the current 'BBB High' rating is not expected. The ECB minutes and President Draghi's speeches this week could provide further clarity around the Governing Council's new forward guidance on interest rates. On the data front, our economists expect the ZEW to have fallen again, while Euro area industrial production likely rebounded in May. They also forecast a strong monthly UK GDP print, supporting their call for an August hike. Read More