Hopes the U.S. Federal Reserve may be nearer the end than the beginning of its rate hikes cycle buoyed markets late last week, but in reality markets are far from settled--nor should they be. Volatility will likely continue so long as inflation remains troublesome. Markets expect the European Central Bank to hike rates another 75 basis points on Thursday, while the Bank of Japan's Friday meeting will also be closely watched. Negative rating pressure is still building with negative actions far exceeding positive ones.