Market Comment | The roller coaster ride gets wilder.

Summary

Risk aversion intensified this week. Bond yields continued to fall to new lows while market volatility increased as trade tensions escalated. China retaliated with a weaker yuan fixing after the new U.S. tariff threat.

Key points

• Key points:
• Risk-off mood intensified as trade tensions spurred global growth concerns.
• Safe-haven bond yields sank.
• Equity volatility surged.
• EM currencies depreciated led by a weaker yuan, except the TRY.

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