Market Comment | All eyes on the European Central Bank. ECB Preview.

Summary

Sovereign bond yields rose as investors tempered their expectations that the ECB will unleash a big stimulus package this week, trimming expectations of an immediate QE.

Key points

• Key points:
• The pound appreciated driven by the growth of the U.K. economic activity in July.
• The euro gained on hopes of German fiscal stimulus and stronger-than-expected exports.
• The price of Brent crude rose after the OPEC signaled that it will continue with production cuts.
• U.S. and European stocks were steady.

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