Bond yields lower

The euro gained about half a cent against the dollar over the course of last week and kicks off this week trading at around $1.0550. Sterling continues to hover below $1.23 against the US currency, leaving the euro-pound exchange rate at about 86p

In government bond markets, German and UK 10-year yields start out this morning at 1.45% and 2.30% respectively, having fallen by around 20bps last week, while equivalent US yields are trading at 3.15%

Consumer confidence in the US fell quite sharply for a second month running in June, according to the latest University of Michigan survey published on Friday,  amid continuing high consumer price inflation

Fed member Daly says a three quarter percentage point  increase in interest rates again in July is needed to help get inflation back down to target

Data due this week includes PCE inflation in the US on Thursday and CPI inflation in the Euro area on Friday