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The trip to Madrid offered last season's beaten finalists their first true test in Europe this term following four comparatively easy fixtures.

The Reds, losers in six of their last seven Premier League matches, were expected to dominate on all fronts this term after following last season's title triumph with a summer spending spree.

Recent comments from New York Fed President John Williams, who said there is “room for a further adjustment in the near term,” helped push rate-cut expectations higher late last week.

Recent comments from New York Fed President John Williams, who said there is “room for a further adjustment in the near term,” helped push rate-cut expectations higher late last week.

Expectations shifted after New York Fed President John Williams indicated last Friday that there’s scope to cut interest rates in the near term.