Market Comment | European election results leave markets little changed

Summary

Financial markets traded with caution today, with German safe-haven yield inching down, although European equity markets extended Friday’s soft rebound as voters in European elections showed broad but fragmented support for pro-EU parties. Markets in the US and UK were closed today due to a public holiday.

Key points

• Key points:
• German yields declined, led by modest safe-haven demand amid a challenging market backdrop.
• Italy risk premium widened due to concerns about a potential rise in friction with the European Commision.
• The PBoC continued to warn against short positions on the RMB.

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