Market Comment | Fresh trade concerns

Summary

Early equity optimism in Europe driven by the positive manufacturing data from China was erased amid new trade concerns, political risk in Germany and worse-than-expected US manufacturing data.

Key points

• Key points:
• Sovereign bond yields rose sharply led by upbeat PMIs from China.
• The DXY index was dragged down by US President's pressure on the Fed to weaken the USD and further contraction in the US manufacturing industry.
• European stocks fell sharply with the utility sector underperforming others.

Geographies

Topics

Tags