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Suffer Europe
- As further hard data trickles out amid the ongoing Iran conflict, it appears the European economy is suffering most from the impact outside the immediate Middle East region.
- US markets have benefited from the economy's relative insulation to geopolitical risks and solid corporate earnings, which have underpinned stocks.
- This week's final reading of S&P Global Eurozone Composite PMI confirmed business activity contracted for first time in almost a year-and-a-half as inflation continued to rise in April.
- These fiscal pressures are now crystallising in rising sovereign bond yields.
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