Market Comment | 10-year U.S. treasury yield hits 19-month low

Summary

The US equity markets extended the tepid rebound while safe-haven yields inch down further today, as traders returned from holiday break in the US and UK. Such unusual negative correlation between equity prices and bond yields suggests that markets are still trading with caution amid a challenging backdrop.

Key points

• Key points:
• Bond continue attracting safe-haven demand.
• US-China trade deadlock persists.
• The increase in Italy’s risk premium weighed on Italy’s banks.

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