CMS DAILY MARKET REPORT 16 AUGUST 2019

 

ASIA STOCKS EDGED HIGHER ON FRIDAY
 Asia  stocks  gains on the near weekend as China signals more support to the economy further it take clues from Wall street . However the trade war jitters remained the wowed for the market after yesterday China said will response back to $300 billion products.

JAPAN BOND YIELDS AT MULTI YEAR LOWS
In the latest data and signals of global slowdown Japan 10 year bond yield surged  to the lows of July 2016.The central bank in an attempt to decline amid the global bond rally.

OIL PRICES REMAINED STABLE NEAR $55
 Oil prices today  posted gains after some relieve market received in the form of delay in tariff imposition by US.

EUROPEAN EQUITY CLOSED ON WEAK NOTE
Euro stocks closed on negative territory as German and French bond yields hits record lows after US treasury the yield curve inverted for the first time since 2007. The UK FTSE 100 -1.3%, German DAX -0.6%, French CAC -0.4%, Spain IBEX -0.3% and Italy MIB – closed for holiday.

ECB REHN: WEAK OUTLOOK WITH A SIGNIFICANT STIMULUS PACKAGE IN SEPTEMBER
ECB Governing Council member Olli Rehn said, “There is a certain weakening of the economic outlook for Europe in the last couple of months”. He believes when people working with financial markets, it’s better to overshoot than undershoot and better to have a very strong package of policy measures than to policy player. He added more “It’s important that we come up with a significant and impactful policy package in September”, which hinting a rate cut can be expected in the near term. .

US EQUITY ENDED HIGHER AFTER BUMPY TRADING SESSION
U.S. stocks closed in positive territory on Thursday after improvement in retail sales data. Dow Jones able to recover from its previous low as recession fears eased by strong retail trade data for July. The S&P 500 gained 7 points, or 0.3%, to 2,848 while the Nasdaq lost 7 points, or 0.1%, to 7,767 and the Dow added 0.39% at 25,579.39.

TRUMP SAID TALK WITH CHINA WAS PRODUCTIVE
US President Trump said on Thursday that U.S and China’s negotiate were “productive” trade talks and expected them to meet in September despite U.S. tariffs on over $125 billion worth of Chinese imports taking effect September 1.

 

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