Beyond Bulls & Bears

Notes From the Trading Desk – Europe
Equity

Notes From the Trading Desk – Europe

A growing sense of optimism around US/China trade talks and an ongoing dovish narrative from central banks helped equity markets generally achieve a positive performance last week.

Notes From the Trading Desk – Europe
Equity

Notes From the Trading Desk – Europe

Equity markets continued their recovery last week as optimism around US/China trade talks and a continued dovish narrative from the US Federal Reserve eased investor nerves. In Europe, macro data continues to be lacklustre and the noise around Brexit is back to fever pitch. But European indices still benefitted from the more positive global perspective.

Notes From the Trading Desk – Europe
Equity

Notes From the Trading Desk – Europe

Positive catalysts helped European equities edge higher throughout last week. These included the hopes of an easing in global trade-war tensions and political progress in Italy. Nevertheless, concerns over Brexit and some disappointing data from Europe and China continue to cast a dark shadow.

Notes From the Trading Desk – Europe
Equity

Notes From the Trading Desk – Europe

The last few of days in October brought some welcome respite for equity markets thanks to month-end positioning, robust corporate earnings and better tone around US/China trade. Markets were in positive territory last week across the board.

Notes from the Trading Desk – Europe
Equity

Notes from the Trading Desk – Europe

“It seems likely the Five Star Movement will have a major part to play in Italian policy going forward. Coalition governments are commonplace in Italy and a single party has not won an outright majority since the Second World War.”- Franklin Templeton European Trading Desk team, March 5, 2018.

Notes From the Trading Desk – Europe
Equity

Notes From the Trading Desk – Europe

"Central bank commentary has been driving headlines throughout the second quarter, from our perspective, and last week was no exception as several monetary policymakers in different jurisdictions gave a hawkish tilt to speeches, fuelling speculation that the period of ultra-accommodative monetary policy could be approaching an end.” - Franklin Templeton European Trading Desk team.

Notes From the Trading Desk – Europe
Perspectives

Notes From the Trading Desk – Europe

Given the improving macroeconomic data we have seen from the eurozone of late, there was a good deal of scrutiny on ECB President Mario Draghi’s press conference to see if he would step back from his dovish stance. Draghi appeared keen to be careful not to unsettle markets with excessively hawkish rhetoric.