Analysts at ANZ noted the recent market developments in a global snapshot.
Key Quotes:
“US equities lifted with risk sentiment supported by Treasury Secretary Mnuchin’s commentary on China that “we’re putting the trade war on hold”.
“The USD is mixed and treasury yields are unchanged.”
“Volumes were generally light with holidays in some markets.
“The Dow is up 1.0% at the time of writing with industrials leading gains, while the S&P 500 is up 0.7%. European bourses were more mixed with Italian shares declining 1.6%.”
“Yields on Italian paper continued to shoot higher with 2 year up 17bps and 10 year up 15bps on concerns about what the new populist coalition will mean for the fiscal books.”
“WTI oil rose 1.4% to USD72.229 on Venezuela/Iran supply concerns, while gold did the same 24-hour ‘U’ as the NZD, to be currently down 0.1% at USD1291/oz.”
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