According to Jinshi, Credit Sights analysts pointed out that the European Central Bank and the Bank of England will start cutting interest rates in the summer due to market expectations of slowing inflation in the UK in March, which led to a widening of the euro and pound investment grade credit spreads last week. This expectation of central bank rate cuts is driving sovereign bond yields down, while corporate bond yields remain high, leading to widening credit spreads. Credit Sights said that the euro IG and pound IG spreads widened by 2 basis points to 114 basis points and 4 basis points to 119 basis points, respectively.