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00:00When you have the latest European PMIs Dani which paints a picture of the economy slowing pretty quickly. Yes a 16 month low for that data coming in. S & P global economist pointing out that the German economy the German numbers essentially losing all the momentum that they had built up coming out of the worst of the pandemic. So yeah it's not just inflation fears in the US. They are really acute in Europe right now. After this data Black Rocks Rupert Harrison saying all eyes are on for a recession in Europe. And likewise we have seen the dramatic move in this European bond market. Ten year German bond yields those on forced to see their biggest drop since March. France also seeing a drop of 18 basis points as well. So it is a big push into bonds. And of course the euro also reflecting that economic weakness that is down about six tenths of one percent. Matt.

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Eurozone PMIs Tumble to 16-Month Low as Prices Climb

Euro-area economic expansion slowed sharply in June as an indicator for economic activity by S&P Global fell to a 16-month low, with surging prices curbing the rebound from pandemic restrictions. Dani Burger reports on Bloomberg Television (Source: Bloomberg)

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