UK and European stocks are lower this morning following a sell-off in Asia, particularly Japan. Markets sold off last week on the projection from the US Fed that interest rates will be raised twice in 2023. On Friday, St. Louis Fed President James Bullard shook markets further by saying that a rate hike was likely as early as next year.

This week Flash PMI surveys are due which will offer a snapshot of the health of global economies. Investors will watch for further signs of inflationary pressures.

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