Global markets were mixed following less hawkish central bank commentary and weaker-than-expected US manufacturing data. Meanwhile, European inflation data surprised to the downside, reinforcing the outlook for a pause in tightening cycles.
Key Takeaways
- 1.Equity markets were mixed and US bond yields reversed gains after Fed Chair Warsh's appearance failed to deliver a hawkish tone.
- 2.Euro area headline and core inflation surprised to the downside in June, suggesting a shift away from further policy tightening.
- 3.Crude oil extended losses as Doha peace talks between the US and Iran eased supply disruption fears.
Table of Contents
- Highlights
- Today (AEST)
- Global markets overview
- Data/event pulse
- Key themes and views
- Market at 6:45am today
- Key data releases
- What's ahead today
- Commodities
- Change* since 4pm last trading day
- Important Notice
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Authors
Jasmine ZhengBrian MartinDaniel Hynes
Securities
S&P 500WTI Crude Oil
Themes
Central Bank Policy PivotGeopolitical De-escalation
Regions
EuropeUnited StatesAustraliaNew Zealand