(News Bulletin 247) – It remains depressed in European markets (-0.9% in London and Paris, -0.7% in Frankfurt), in a worrying context of a sharp rise in bond yields in United States and fears for the Chinese economy.
‘US Treasuries fell over the week amid stronger than expected data,’ said Barclays, pointing to a 10-year yield that climbed 20 basis points week-on-week to around 4 ,30%.
“Risk assets started to react to bond market developments: US and European equities fell two to three points, although the VIX remained relatively low and the dollar strengthened”, continues the British bank .
Morale is also weighed down by growing fears about the health of China: the Chinese real estate giant Evergrande, in poor financial health, would have requested Thursday its placement under bankruptcy proceedings in the United States.
In European news, the Eurozone annual inflation rate was confirmed down slightly by 5.3% for the month of July, while UK retail sales fell by 1.2% compared to June.
On the value front, AstraZeneca is down 1% in London, although its Forxiga has been approved in China for an expanded indication in adults with symptomatic chronic heart failure.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
