This translation has been automatically generated and has not been verified for accuracy.Positive noises from China on U.S. trade talks lifted European stocks on Thursday and snuffed out a modest rally in safe-haven assets that had dominated in Asia.
But it was nothing too dramatic. Ten-year yields were up no more that 2 basis point across the region, , and the major currencies barely budged too, having now got used to the constant tooing and froing of the year-long trade war. “To me, what we see is just market expectations, it is purely micro management of the market, nothing else. We have nearing a point where nobody cares about the discussions.”
Elsewhere in the region the Philippines joined the army of global central banks which have cut interest rates this month, with a 25 basis point trim to 4% Mexico could slice its 8% rates but a similar amount later too.
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