Market movers ahead
We expect a 1.4% m/m increase in overall US retail sales in May on the back of an increase in auto sales and higher gasoline prices.
Greece and its creditors will work on reaching an agreement on Greece's fiscal woes before Thursday's meeting of euro area finance ministry deputies.
In China, we expect growth in industrial production to have stayed subdued at 5.9% y/y in May.
In Scandi markets, focus will be on May's inflation due to be released in Denmark, Norway and Sweden next week, in particular as rate cuts are looming in Norway and Sweden.
Global macro and market themes
Bond yields are rising going into the summer as the reflation theme builds.
US data is turning and the Fed will soon become more hawkish.
EUR/USD is set to go lower when a Fed hike becomes evident.
Stocks are in limbo from the looming Fed hike, bond sell-off and Greek drama.
Euro inflation is heading for 1.5% in early 2016.
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