LONDON - European stocks fell, government bond yields slipped and the Japanese yen firmed on Thursday after the U.S. government hit Chinese telecoms giant Huawei with severe sanctions, further straining Sino-U.S. trade ties.
The broad weakness in European markets was somewhat offset by small gains in Chinese and Hong Kong stock indexes leading to only marginal losses on a global stock index as investors expected state authorities to step in to support the market and stabilize sentiment. Core German government bond yields were flirting with their lowest level in nearly three years while Dutch bond yields were about to dip into negative territory, a phenomenon not seen since October 2016.
In the United States, retail sales unexpectedly fell in April as households cut back on purchases of motor vehicles and a range of other goods, while industrial production fell 0.5% in April, the third drop this year. “The markets are inching step by step in pricing in a rate cut. That is a sea change from a year ago when the consensus was three to four rate hikes a year,” said Akira Takei, bond fund manager at Asset Management One.
I don’t think reeling means what you think it means.
Stocks and yields are both higher...
Reeling. Means higher
“Reeling” = 0.4% ? To yesterday’s opening price ? , you are better than this sort of click-bait headline !
Expect an Apple ban today.
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Source: Reuters - 🏆 2. / 97 Read more »