We haven't seen big changes in market pricing this week given the lack of key economic events. The only notable changes were seen with the Fed, ECB, SNB and RBA pricings. Given the K-shaped economy narrative, aggressive and prolonged selloffs in the stock market will cause traders to increase the rate cut bets. In fact, they started to talk about possible rate cuts in the future if euro's strength negatively affected inflation in the eurozone. For the RBA, the rate hike expectations got sealed this week following higher than expected Australia's inflation data.