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  • Macro: Equity markets had another positive session yesterday, with the Eurostoxx600, the S&P500, and the Nasdaq all making gains, as President Trump signaled a softer than expected approach on tariffs towards China. Later today, there are PMI’s to be released out of France, Germany, the UK, and the US. Manufacturing is forecast to remain in contraction for each region, whilst services are expected to show an expansion for the UK, Germany, and the US. At 15:00, out of the US, we will also have Existing Home Sales for December and the University of Michigan Consumer Sentiment index
  • Stock: We have updates on Ryanair, Rio Tinto, and Apple. (Comment attached)
  • Debt: Bond yields rose modestly in the US and Europe yesterday ahead of a raft of economic data today.