Beyond Bulls & Bears

Notes From the Trading Desk – Europe
Equity

Notes From the Trading Desk – Europe

Last week proved to be a difficult week for many asset classes, with a number of catalysts contributing to a slump across markets on Wednesday. Rising US Treasury yields set the scene for the mid-week selloff, but didn’t account for the full scale of it. Concerns about growth slowdown, trade tensions, and the pace of interest rate rises also played their part.

Notes From the Trading Desk – Europe
Equity

Notes From the Trading Desk – Europe

Equity markets moved higher early last week on news that the next wave of US tariffs on China would not be as severe as expected. Retaliatory measures from China were also seen as restrained.

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.