- It was a modestly risk off day for markets yesterday, with European and US indices finishing the day marginally in the red, as investors took some profits following a four-week rally.
- Prior to holding its R&D day, Novartis this morning noted that having now completed its transformation into a “pure-play” innovative medicines company, it was upgrading its mid-term revenue growth guidance to 5% CAGR between 2022 and 2027.
- US treasury prices were broadly flat on the day following a successful auction on Monday with the 10-year yield remaining close to a two -month low.
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