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Market Comment | Risk sentiment worsens with renewed trade war fears.

Published on Friday, August 23, 2019 | Updated on Monday, August 26, 2019

Market Comment | Risk sentiment worsens with renewed trade war fears.

This week’s risk sentiment worsened with today’s announcement from China of retaliatory tariffs on another $75b worth of U.S. goods. Global stocks recovered from the drop of last week as strong U.S. retail earnings and hopes of a more stable government in Italy outweighed the escalation of trade tensions.

Key points

  • Key points:
  • Sovereign bonds dropped in general this week as expectations of an aggressive rate cut faded.
  • Investors sought shelter in gold, the prices of which trimmed early losses amid trade uncertainty.
  • Concerns over a global slowdown were reinforced by weak manufacturing data.

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