Market Comment | PMI data reinforce concerns over global slowdown.

Yesterday’s risk appetite was hurt by the volatility in the financial markets amid concerns over global economic weakness and renewed U.S.-China trade tensions. All eyes will be on Powell’s speech tomorrow at the Jackson Hole gathering as markets look for hints on monetary policy.

Key points

• Key points:
• Stocks fall in general but the IBEX 35 index inched up as the banking sector shines.
• Mixed news on the data front.
• Investors lowered their expectations of a more aggressive rate cut in the next month.
• The JPY strengthened and the sterling soared as Brexit deal hopes rise.

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