Market Comment | Fed on deck with a cut baked in

Summary

Sovereign bond yields extended its decline awaiting for the Fed to cut 25 bps later today. Meanwhile, Eurozone’s weak macroeconomic data reinforced the region’s gloomy economic outlook and the expectations of an ECB depo rate cut in September.

Key points

• Key points:
• Trade talks between U.S. and China will continue in September.
• EURUSD depreciated amid a worsening Euro area economic outlook reinforced by weak macroeconomic data.
• Government bond yields inched down.

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