Analysts at ANZ explained that a mixed night for markets, with ongoing concerns about Italy causing jitters in Europe but stronger markets in the US.
Key Quotes:
“In Europe, the UK FTSE 100 closed down 0.7%, France’s CAC 40 -0.7% and the DAX -0.4%. In contrast, industrials and consumer staples drove the Dow Jones index up 0.6% to an all-time high, shaking off European fears. Italian yields continued to rise, with the 10-year yield up another 15bps, whereas global yields fell. US treasury yields are down a few bps. The USD appreciated against all in the G10, except JPY. Oil is finding some stability (WTI -0.3% to USD75.08 at the time of writing), while gold lifted a sharp 1.1% to nearly USD1201.7/oz. With some signs of safe-haven flows, the market is clearly skittish on the Italian budget process.”
Share
