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Uncertainty over China’s stimulus weighs on sentiment
European equity markets have started the new week on the back foot following a negative lead from Asia. Investors are seemingly disappointed by the lack of new news on China’s stimulus, US equities and bond markets are closed for a holiday with futures contracts pointing to small dips for the S&P 500 and NASDAQ 100 while UST futures suggest 10y US Treasury yields are biased to open 5bps higher. The latter on the back of a move higher in UK and EU rates with the market lifting expectations on both BoE and ECB terminal rates. The USD has regained a bit of ground amid subdued sentiment and a weaker CNY, AUD starts the ... (full story)