Market Comment | Trade talks swing from optimistic to pessimistic

Summary

Investors’ early risk appetite eased, underpinned by reports that Chinese officials are pessimistic on progress toward a trade deal.

Key points

• Key points:
• The yield on the 10Y UST erased early gains, while peripheral risk premia narrowed.
• Sterling outperformed against its G10 peers as the Conservatives remain leading the latest opinion polls.
• European stock markets edged lower with investors moving away from cyclicals.

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