Morning Bid: Stocks’ win streak falls prey to rethink on Fed

A look at the day ahead in European and global markets from Kevin Buckland

The story of 2024 thus far has been an aggressive repricing of dovish Federal Reserve bets. The effect on markets has been a slide in global equities and a bounce in the dollar, setting up the former for its first losing week in 10 and the latter for its best week since mid-July.

The monthly U.S. payrolls report due later in the day had already loomed large, but its significance has been ratcheted up after data overnight provided even more evidence of labour market resilience, easing pressure on the Fed to rush to cut rates.

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