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Published on Thursday, November 7, 2019

Market Comment | Mounting trade optimism resumes the risk-on mood

China’s statement that it has agreed with the U.S. to remove tariffs in stages renewed the risk-on mood, despite the gloomier Eurozone economic outlook.

Key points

  • Key points:
  • Sovereign bond yields rose sharply again with the Italian risk premium widening.
  • The sterling depreciated driven by an unexpected dovish tone from the Bank of England.
  • Global stocks edged higher with both the S&P 500 and Dow Jones continuing to hit fresh record highs.

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