European equities softer to start the trading day
The risk mood is a bit more defensive to start the European morning
- Eurostoxx -0.3%
- Germany DAX -0.3%
- France CAC 40 -0.6%
- UK FTSE -0.1%
UK stocks are the only ones faring slightly better but that is only because the pound slumped in overnight trading amid the Brexit limbo.
The overall risk sentiment remains more cautious and defensive on the day with Treasury yields also weaker across the curve. That is keeping the yen on the front foot but so far we're not seeing signs of overwhelming strength (risk-off) just yet.
Just be wary that markets will also have to keep an eye on US vice president Mike Pence's speech on China tomorrow and I would argue that his speech will be the next big clue for markets on how to proceed next.