Market Comment | Muted markets amid U.S-China trade deal relief
Published on Thursday, January 16, 2020
Market Comment | Muted markets amid U.S-China trade deal relief
Shy market reaction after China and the U.S signed phase one of the trade agreement. Meanwhile, U.S and European stocks hit new highs, driven by positive U.S retail sales data.
Key points
- Key points:
- Some U.S tariffs on Chinese goods remained in place.
- Sovereign yields were mixed, with the U.S 10Y bond yield outperforming the rest.
- Strong manufacturing and retail data in the U.S.
- The CNY continued its appreciation below the CNYUSD 7 threshold, whereas the USD generally appreciated against its major pairs.
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