Mr Cœuré reviewed the latest financial market developments. Since the Governing Council’s previous monetary policy meeting on 25-26 April 2018, global bond markets had seen an increase in risk aversion, amid rising geopolitical tensions and political uncertainty, which was accompanied by some credit spread widening and a temporary increase in market volatility. Trade tensions had escalated further in the global economy, with some emerging market economies having come under pressure. The impact of trade issues on global financial markets had been visible in the reaction of equity markets to the announcements by the US A ... (full story)