Analysts at ANZ explained that the markets ended Q2 on a calmer note as economic data pointed to ongoing solid momentum into H2 and trade war anxieties eased a touch (see below).
Key Quotes:
“EU and US equities lifted with the DAX up 1.1%, the FTSE up 0.3%, the S&P up 0.1% and the DJIA up 0.2%.”
“US energy firms were supported by higher oil prices, with WTI up 1% to $74.15/bbl.”
“A Trump tweet saying he had convinced Saudi Arabia to lift oil production by “maybe up to 2,000,000 barrels” was later downplayed by the White House and Saudi Press Agency.”
“Fixed income was little changed with the yield on the US 10-year note at 2.86%. Gold was up 0.3%.”
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