Economic growth in the Eurozone was revised higher in the second quarter by the European Union’s statistics office, with exports as the key driver. Eurozone exports to the U.S. rose 20% last quarter from the previous year, according to data from the European Union’s statistics office.
But higher U.S. interest rates carry risks. If financial markets price in a steady stream of rate increases in the coming months, then long-term interest rates could rise and upend bank lending and investment in Europe.