Market Comment | Cautiousness amid concerns over U.S. consumption

Summary

Investors were cautious, awaiting further progress in U.S.-China trade negotiations. A weaker U.S. retail sales outlook spurred concerns about the resilience of U.S. consumption and its economic outlook.

Key points

• Key points:
• The yield on the 10Y U.S. Treasury fell, while the 10Y German bond remained steady.
• Oil prices extended yesterday’s sharp drop.
• U.S. and European stocks erased early gains, dragged down by the weakness of the U.S. retail sector.

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