Margins hold, confidence thins
Executives defend pricing power as consumers trade down and lenders ask sharper questions.
Policy watch
Capital waits for the next signal
Central banks speak in narrower increments while boards, bond desks and treasuries measure the cost of patience.
Sterling steadies before vote
Dealers cite thin conviction rather than conviction itself, with hedges clustered near month end.
Credit spreads refuse drama
Investment-grade buyers keep a narrow lane open, but weaker borrowers face colder arithmetic.