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Friday, May 10, 2019

Market Comment | Trade tensions caught markets off-guard

Risk-off mood resurfaced in financial markets, boosting VIX volatility and safe haven demand, although underlying hopes of an eventual trade resolution contained market losses.

Key points

  • Key points:
  • Economic data showed some resilience in Germany, amid rising prospects of a recovery in the manufacturing sector as industrial production.
  • Sovereign yields fell, as investors sought shelter in government bonds amid trade tensions and muted inflation pressure.
  • In FX, USD lost some strength, whereas JPY acted as a real safe-haven currency.

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