Market Comment | European stocks picked up ahead of the ECB meeting

Summary

European stocks picked up driven by positive corporate earnings while, equities in the U.S. lacked of buying conviction driven by negative activity data. Meanwhile, government bonds were steady except for Italy’s risk premium which narrowed.

Key points

• Key points:
• Trump announced an agreement to increase the budget deficit.
• Positive corporate earnings.
• The IMF further reduced its global growth outlook.
• Boris Johnson has become the Britain’s prime minister leading to an uncertain path to Brexit.

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