Market Comment | Markets find support in the relief of trade tensions and ECB stimulus

Summary

Financial markets remain cautiously optimistic, with and slightly risk-on mood on easing US-China trade tensions and ECB strong stimulus.

Key points

• Key points:
• ECB cut deposit rate and set a tier deposit system, reinforced the forward guidance, delivered an open-ended asset purchase program and sweetened the TLTROIII cost.
• German yield swung, ending higher due to the risk-on, and peripheral yield declined across the board.
• The euro fluctuated before the FOMC meeting next week.

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