Analysts at ANZ offered a snapshot look at the markets.

Key Quotes:

“Despite what can best be described as encouraging US data, bonds rallied overnight in what appears, more than anything, to be a positioning-related move, with talk of record speculative shorts in US Treasuries at present.”

“That said, gains were being paired at the time of writing, with the 10-year yield currently down 1bp to 2.95%. European equity markets had a reasonable start to the week, with the DAX up 0.3%, the CAC 40 up 0.7% and the FTSE 100 up 0.1%.”

“Conversely, US equities pulled back after a strong open, with the S&P 500 down 0.5% and the NASDAQ down 0.6%, with pharmaceutical, tech and telecommunications stocks weighing.”

“Oil rose, in part due to Israeli allegations of a secret Iranian nuclear programme, with WTI lifting to $68.50/bbl. Gold fell 0.5%.”

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