Nothing too Sintra-lating

Thursday 2nd July 2026

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It’s been a quiet day on the markets. So, for a change, an edition of The Morning Call that doesn’t mention the words Iran or Gulf. Instead, the focus has been on that last panel session at the ECB Forum in Sintra. Kevin Warsh didn’t give anything away on monetary policy, except to reiterate that from now on they won’t be giving anything away on monetary policy, but he did give his thoughts on the progress of inflation. NAB’s Skye Masters joins Phil to walk through that meeting, the weaker than expected inflation numbers for Europe, the slide in the US manufacturing ISM and a preview of tonight’s non-farm payrolls.

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