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16/08/2019 – Market view: Tariffs, Heidelberg
US markets paired early losses as investor’s positivity toward trade improved. The trade outlook improved as the Chinese indicated they were looking to move forward with negotiations in September. Positive sentiments continued into Asian trading overnight and Europe followed opening positive this morning. Yields continue to move lower as central banks turn on the monetary stimulus tap, with the Mexican Central Bank reduced its headline rate by 25bps yesterday. The US yield curve inverted, as the 2s10s spread fell to -1bps but finished the day at 2.5bps. On the data front we will be watching European trade data and US housing data later this afternoon.