In a market wrap, analysts at ANZ New Zealand Bank explained that Equities had an up and down session on Friday.
Key Quotes:
“European bourses finished in the red, but US equities ended up solidly (Dow +1.1%, S&P 500 +1.4%).”
“In fixed income, core European 10-year bond yields eased 1-2bp (UK -4bp), while treasury yields had a late surge, finishing up 1-2bps across the curve.”
“Oil rose half a percent and gold slipped 0.6% from the recent highs. Sentiment still appears to be on shaky foundations with some fairly sizeable swings in equities intraday.”
“The data flow was largely looked through with markets focused squarely on the equity market.”
“Kudlow added some uncertainty to the Trump-Xi meeting, jarring positive market sentiment.”
Currencies were mixed with GBP depreciating and NOK outperforming.”
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