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JAMIE CHISHOLM: Hello and welcome to the FT Market Minute. Here's what we're watching in London on Thursday morning. It's the day before Donald Trump's inauguration and stock markets are struggling to make much fresh headway after Wall Street's post-election surge to record levels. Even some steady earnings from the big US financials can't provide fresh impetus. Investors appear to be saying, show me the money with regards to Mr. Trump's fiscal plans.
Meanwhile, there are rumblings in the bond markets after Fed chair, Janet Yellen, warned of a nasty surprise if the central bank delayed too long in raising interest rates. Her comments boosted the dollar and dovetailed with a sense in some parts of the market that building inflationary pressures have been underplayed. Now with German bund yields at less than 40 basis points, any such inflation worries could cause a notable spike in yields.
They are higher across the board in the current session, which brings us to the ECB. The eurozone's monetary [? guardian ?] will deliver its policy decision on Thursday. No change in rates or QE is expected. But will President Mario Draghi address the inflation issue at his press conference?
