Published on Thursday, October 3, 2019
Market Comment | The global economic outlook keeps deteriorating.
Summary
The disappointing ISM non-manufacturing data confirmed the weakening macro backdrop.
Key points
- Key points:
- Sovereign bond yields fell sharply.
- Market expectations of an additional Fed rate cut by the end of October increased to 90%.
- The USD underperformed both G10 and EM currencies.
Geographies
- Geography Tags
- Global
Topics
- Topic Tags
- Financial Markets
Documents and files
Authors
VS
Vitor Sun Zou
CV
Cristina Varela
BBVA Research - Principal Economist