Global market snapshot - ANZ

Analysts at ANZ explained that positive US data didn’t have much of an impact on equities overnight, with both the DJIA and S&P 500 flat at time of writing.

Key Quotes:

"Perhaps solid growth expectations are already baked in, or it could be that with global trade and Italian concerns lingering, the market is pausing for contemplation."

"The yield on the US 10-year Treasury fell 3bps to 2.91%, while Italian bond yields pushed sharply higher during and after Prime Minister Conte’s speech (the 2- and 10-year yield rose 28bps and 27bps respectively)."

"In currency markets, sterling outperformed following a larger-than-expected increase in the services PMI."

"Oil prices initially fell following reports that the US had asked some OPEC members to increase production. However, this did not last, with WTI currently up 1.0%. Gold lifted 0.4%."