- European stocks came closer to a weekly gain as European Central Bank President Christine Lagarde stated that policymakers are in a position to stop following a tightening cycle that threatens to plunge the eurozone into recession.
- The ECB is now at a point where it can assess the impact of its tightening, according to Lagarde, echoing other policymakers who suggested on Friday that further tightening may not be necessary. An improvement in German business confidence provided another ray of hope against the region's bleak economic backdrop.
- The STOXX Europe 600 index was up roughly 0.2%, on course for its highest month since January.
- Treasuries fell after trading resumed after a holiday, erasing the month's gains. The 10-Yr yield rose more than six basis points, tracking declines in European bonds following a report Thursday that Germany will suspend debt limits for a fourth consecutive year, raising concerns about more borrowing.
