Morning Bid: Markets await US banks’ take on credit squeeze

A look at the day ahead in European and global markets from Wayne Cole. It’s been a quiet start to the week in Asia, which is no surprise given U.S. consumer prices loom this week as a major test of the market’s sanguine view that the Fed is done hiking. Futures are 90% priced for steady rates in June and 38% for a cut as soon as July, leaving the market vulnerable to an upside surprise on the CPI. Median forecasts are for a rise of 0.4%, but the range is 0.2% to 0.6% and either of those would have…