Market Comment | The roller coaster ride gets wilder.

Risk aversion intensified this week. Bond yields continued to fall to new lows while market volatility increased as trade tensions escalated. China retaliated with a weaker yuan fixing after the new U.S. tariff threat.

Key points

• Key points:
• Risk-off mood intensified as trade tensions spurred global growth concerns.
• Safe-haven bond yields sank.
• Equity volatility surged.
• EM currencies depreciated led by a weaker yuan, except the TRY.

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