Today we are taking a look at:
- EM inflation expectations trend lower along with SA, EM real rates likely to pause at current levels
- Rand recoups losses from late session to trade back around R14.35/$, euro range bound ahead of ECB, dollar generally stronger
- Top 40 trades off session lows, S&P marginally lower offset by higher Dow, Asian markets mixed this morning
- IMF downgrades global growth forecast; US housing activity upbeat; Eurozone sentiment indicators deteriorate sharply; UK CPI firmer in June
