London — Europe’s stock markets held their own on Wednesday after doubts emerged about fresh US stimulus, while it was shaping up to be another wild day for gold and silver, as well as Turkey’s troubled lira.
Mixed sentiment had dragged on Asian stocks as sniping continued between China and the US. Beijing had also reported weaker-than-expected loan growth, while the US Senate’s majority leader described stimulus talks there overnight as “at a bit of a stalemate”. Barring a bipartisan deal on stimulus, the US economy could be left with measures US President Donald Trump called for on Saturday through executive orders to bypass Congress.
The 10-year US treasuries yield climbed a couple of basis points to 0.67% in Europe to stay at a one-month high. The 10-year yield and 30-year yields saw their biggest increases in more than a month on Tuesday, while the 2s10s curve steepened 4.6bps, the most since June 5. The gap between US two-year and 10-year treasury yields is a metric closely watched for signs of a slowdown.
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