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Sedate Re-Open

MARKET TALK

Core markets tight at the re-open.

  • Headline flow light in the NY/Asia crossover, after U.S. equities continued the push higher on Wednesday, aided by German fiscal support and the latest round of better than expected U.S. economic data, in the form of durable goods (which included positive revisions). A further ratcheting up of Sino-U.S. tension did little to hinder the move in equities.
  • Regional focus in Asia moves to the latest BoK monetary policy decision, with all 22 surveyed by BBG looking for the Bank to leave interest rates unchanged. Focus will fall on the broader growth outlook, with near term downgrades expected, in addition to focus on language surrounding the housing market and non-standard monetary policy measures. Elsewhere, Chinese industrial profits and Australian Q2 CapEx data are due.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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