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Tepid Bounce After Tuesday's Sharp Weakness

EQUITIES
  • Cash markets in Europe are modestly higher, with the EuroStoxx50 adding around 0.6% while Germany's DAX and Italy's FTSE-MIB lag, but are still in the green by 0.1% or so.
  • The bounce is minor, however, relative to yesterday's sharp weakness, which saw most European indices shed 2% or more, leaving a firmer recovery still in the balance.
  • Tech and healthcare names are leading the bounce in Europe, with utilities and real estate countering at the other end of the table.
  • In US futures space, markets hold above yesterday's lows, but there's been no material reversal in sentiment, evident in the continued support for VIX futures, which trade in close proximity to April highs.

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