- The dominant mood in markets yesterday was risk-off, with bonds rallying sharply and equities moving in the opposite direction, albeit with modest losses.
- After the market closed last night, FedEx issue stronger than expected Q423 results (year-end May) but provided guidance that disappointed the market, which saw the stock come off 3% in after-hours trading. (Comment Attached)
- Sovereign bond yields declined across the board yesterday, with US 10-year Treasury yield falling 5bps to 3.72%.
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