June 3, 2024 4:24 PM

Global markets-European shares rally, eyeing ECB rates move

European stocks bounced and government bond yields dropped on Monday as investors looked forward to an interest rate cut from the European Central Bank (ECB), while U.S. jobs data kept the focus squarely on inflation. The pan-European STOXX was up 0.6% by 0850 GMT, while U.S. stock futures also rose. In bond markets, the U.S. 10-year Treasury yield was down 4 basis points to 4.47% and German yields, which touched six-month highs last week, also dropped. All focus was on the ECB, which is cons...