Markets continue to shy away from risk...........>

US: Markets continue to shy away from risk alongside the US opening bell, with

US equity markets nursing losses at the open after an extended weekend. While

the moves haven't been triggered or driven by any headlines, the lingering

tension between the US and EU over the weekend hasn't helped matters. President

Trump is expected to have received documents this weekend that prove car imports

from the EU constitute a national security threat, justifying any US move on car

tariffs (which would likely be reciprocated swiftly by the EU).

The risk-off moves in equities have filtered through to both currencies and

bonds, with Treasuries well bid and the USD sinking across the board. Spot gold

is having a strong session, rallying to ten month highs and outperforming the

wider commodities complex, which is generally lower.