- Risk assets registered modest declines yesterday with Europe and the UK both finished marginally down while US markets were broadly unchanged but rallied strongly from their intra-day lows.
- We are releasing a research update note on ASML following yesterday’s Q4 results. Our price target has been revised upwards to €690 (from €600) and the recommendation remains Buy. ASML is on our Analyst Conviction List.
- Core bond yields were broadly unchanged yesterday.
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