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    Published on Monday, August 12, 2019 | Updated on Monday, August 12, 2019

    Market Comment | Safe-haven assets shine as uncertainty lingers.

    Summary

    Markets remained cautious with the U.S.-China trade conflict showing no signs of abating, spurring fears over global growth and currency volatility. Trump downplayed expectations of holding a trade meeting with China in September. In this context, safe-haven assets remained in demand.

    Key points

    • Key points:
    • Downward pressure on government bond yields persists.
    • Safe-haven currencies continued appreciating while the ARS fell sharply after President Macri’s resounding defeat in the primary polls.
    • Implied volatility of S&P500 rallied while stock markets inched down.

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    Authors

    Vitor Sun Zou
    Sumedh Deorukhkar BBVA Research - Senior Economist

    Documents and files

    Report (PDF)

    MC_120819-.pdf

    English - August 12, 2019

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