Market wrap up, data largely ignored - ANZ
|Analysts at ANZ explained that decent data in both Europe and the US, confirming gradually lifting inflation pressures, was largely ignored by the market.
Key Quotes:
"USD strength was the overriding feature of the night’s trading. In bond markets, European core market 10-year yields were up 3-4bp, while US 10-year yields are up 6bps at the time of writing. Equities were mixed in the European session, although the Euro Stoxx 50 posted a modest gain (+0.3%).
US equities are trading sideways. In commodities, oil is weaker, with WTI for near-term delivery down 2.2% on comments from the head of the IEA predicting a rebound in US supply. Gold is holding above $1,210, but is down about 0.4% at the time of writing."
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