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Spotlight shifts from Fed to Trade talks & Brexit
This holiday shortened trading week is expected to be the divide for lack of recent volatility, however, despite the scarcity of liquidity, the uptick in volatility has yet to appear. Even U.S equities mixed earnings results (Alphabet bad, Apple better than expected), there has been no sense of urgency in this asset class. More than 350 firms in the S&P 500 have disclosed their quarterly results. Still, about +76% of companies reporting are beating the streets profit estimates. Global bond yields remain contained to their tight yield ranges despite the slightly more ‘hawkish’ rhetoric and revised growth ... (full story)