0606 GMT - The downward correction in European Central Bank interest-rate expectations seems to be running out of steam for now, Commerzbank's Rainer Guntermann says in a note. Official guidance for July is ambiguous, while the ECB is not taking a further rate hike off the table, the rates strategist says. For front-end eurozone bond yields to move lower, a larger drop in oil prices seems needed, he says. Money markets currently price in 17 basis points of ECB rate hike for September and 25 basis points by year-end, according to LSEG data. "More color is in store in the coming days with a long list of ECB speakers and the minutes from the June meeting," Guntermann says. (emese.bartha@wsj.com)
(END) Dow Jones Newswires
July 06, 2026 02:08 ET (06:08 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.