In U.S. markets, stocks advanced and sovereign yields declined for short-maturity treasuries (the U.S. sovereign curve steepened) as messages from the U.S. Federal Reserve made investors confident that the Fed will cut rates soon.
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Stocks were mixed and sovereign yields ticked up as investors digested messages from central banks and a solid U.S. June inflation reading (headline: 1.6%; core: 2.1%).
Investors traded cautiously in the last session of the week and stock indices rose mildly in most euro area trading floors and in the US (where the S&P 500 reached a new record high).
Financial markets started the week with caution as they await for more earnings releases, which will be a key driver of stock markets in the next sessions.
After the risk-off session of Monday, triggered by the depreciation of the Chinese yuan above the 7 yuans per US dollar threshold, financial markets' volatility moderated and stock indices edged down in Europe and rose in the US.
Stock markets decreased across the globe as investors perceived that trade talks between the US and China made very little progress.
The global stock rout deepened on Thursday as the sell-off in US Treasuries continued affecting markets across the world. The yield on 10-year US sovereign bonds rose sharply to 1.53%, and the 5-year yield jumped 21 basis points, the second-largest one day increase seen in the past decade, as investors anticipated large stimulus measures.
Yesterday, Fed's 25 bp interest rate cut and the economic releases in Europe took center stage.
Trade concerns returned to financial markets' center stage as Donald Trump announced that the US will impose 10% tariffs on the remaining $300 billion Chinese imports, starting on September 1st.
Escalating trade tensions between the US and China worsened investor sentiment and motivated safe-haven flows in the last session of the week.
Financial markets buckled on Monday after China let its yuan weaken below 7 to the dollar, an 11 year low, adding to broad risk aversion on concerns about the escalation of the US – China trade tensions.
Investors traded with optimism during yesterday's session. In Europe, the upward revision of the German Q4 GDP (from +0.1% qoq to +0.3%), supported by exports and construction, led to a rise of 0.5% in Eurostoxx50. European sovereign yields also rose and peripheral spreads widened slightly.
Financial markets were mixed in yesterday's session.
On Friday, markets ended a turbulent August with modest stock market increases and sovereign yields fluctuating around year-lows.
Stock markets rose across advanced and emerging economies as investor sentiment was buoyed by conciliatory remarks on the trade front.
Global stocks were mixed and the focus in yesterday's session was on political developments in Europe.
Markets are suffering a turbulent summer.
Stock markets rose mildly in most trading floors while yields on sovereign bonds edged up in the US and declined in the euro area (the German Bund reached a new minimum yielding -0.58%).
In the last session of a volatile week, stock indices declined across the board and yields on sovereign bonds edged down in the euro area and in the US. In particular, the yield on the 10-year US Treasury fell by 12 basis points and fluctuated again below 1.50%.
Markets started the week on a constructive note as investors found support on positive geopolitical gestures.