Market Comment | The trade rollercoaster continues amid mixed news

Summary

Trade developments swing from pessimistic to optimistic. Market risk sentiment improved amid speculation that China and the US might be closer to a trade deal, but it didn’t fully recover from the recent flood of negative trade news.

Key points

• Key points:
• US employment lost steam, while the services sector slowed down.
• The yield on the 10Y UST bond recovered partially from yesterday’s sharp drop.
• Sterling outperformed its G10 peers as polls favor Tories, while the USD remained under pressure.
• Oil prices jumped sharply.
• European and US equities rose, while the VIX index fell back to 14.

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