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Published on Monday, December 2, 2019

Market Comment | Fresh trade concerns

Early equity optimism in Europe driven by the positive manufacturing data from China was erased amid new trade concerns, political risk in Germany and worse-than-expected US manufacturing data.

Key points

  • Key points:
  • Sovereign bond yields rose sharply led by upbeat PMIs from China.
  • The DXY index was dragged down by US President's pressure on the Fed to weaken the USD and further contraction in the US manufacturing industry.
  • European stocks fell sharply with the utility sector underperforming others.

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