Slightly softer tones observed in early trades

  • German DAX futures -0.1%
  • French CAC 40 futures -0.1%
  • UK FTSE futures +0.1%

UK stocks are benefiting from pound weakness again but the rest of the region is seeing more subdued openings amid some softness in US futures, which are down by ~0.7%.

I would expect markets to stay more cautious overall given the current global backdrop but so far the bond market is still not exactly folding just yet. The session ahead should see more focus on Brexit headlines but keep an eye on the overall risk mood as well.