Don't relax just yet
STOXX 600 up 0.2%
Defence stocks top fallers
Miners, autos, banks up
Wall Street steady
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DON'T RELAX JUST YET
Most major asset classes have recovered from the turmoil at the start of August, which, according to the general view, was a result of an unusual confluence of factors, and which can now be forgotten.
Deutsche Bank warn however, in a Monday note, that many of the catalysts that drove the turmoil are still in place.
They point out:
- Equity valuations are elevated by historical standards and positioning is overweight.
- Global economic data is increasingly soft.
- Monetary policy is becoming increasingly tight, as inflation falls.
- September is often a weak period for markets.
- Geopolitical tensions remain high.
Maybe we can't relax just yet.
(Alun John)
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EARLIER ON LIVE MARKETS:
MOVING TO WALL STREET: IT'S (MOSTLY) PAYING OFF CLICK HERE
BUSY BRITISH DEALMAKERS BEHIND STERLING'S STRENGTH CLICK HERE
STOXX FLAT CLICK HERE
EUROPEAN FUTURES EASE, DEFENCE STOCKS ON RADAR CLICK HERE
THE SOFTEST OF SOFT LANDINGS CLICK HERE
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