Market Comment | Relief rally fades

Summary

Trade relief after the truce between the U.S. and China waned on the back of the threat of new U.S. tariffs on European products, and increasing concerns over the global economy driven by weak manufacturing activity last month.

Key points

• Key points:
• U.S. government proposed new tariffs on $4 bn worth of European Union products in retaliation for Airbus subsidies.
• EU leaders meet again to try to reach agreement on the positions of responsibility of the European Institutions.
• Treasury yields slipped with peripheral and the UK leading the decline.

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