Market Comment | Fresh trade concerns
Published on Monday, December 2, 2019
Market Comment | Fresh trade concerns
Summary
Early equity optimism in Europe driven by the positive manufacturing data from China was erased amid new trade concerns, political risk in Germany and worse-than-expected US manufacturing data.
Key points
- Key points:
- Sovereign bond yields rose sharply led by upbeat PMIs from China.
- The DXY index was dragged down by US President's pressure on the Fed to weaken the USD and further contraction in the US manufacturing industry.
- European stocks fell sharply with the utility sector underperforming others.
Geographies
- Geography Tags
- Global
Topics
- Topic Tags
- Financial Markets
Authors
Vitor Sun Zou
Cristina Varela
BBVA Research - Principal Economist
María Sánchez Carvajal
Documents and files
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