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Published on Thursday, October 3, 2019

Market Comment | The global economic outlook keeps deteriorating.

The disappointing ISM non-manufacturing data confirmed the weakening macro backdrop.

Key points

  • Key points:
  • Sovereign bond yields fell sharply.
  • Market expectations of an additional Fed rate cut by the end of October increased to 90%.
  • The USD underperformed both G10 and EM currencies.

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