According to Jin10 Data, Guy Steele, head of developed market strategy at Amundi, Europe's largest asset management company, said that investors' expectations for US interest rates may be too dovish, while their expectations for the Bank of Japan and the Bank of England may be too hawkish.

He expects the U.S. to cut interest rates by 25 basis points in September and one more cut before the end of the year.

As for the Bank of England, Amundi expects a rate cut this week and is "not as convinced as many are that the Bank of Japan is ready to start raising rates."