Investors ended the week on a cautious, yet slightly positive note. All eyes were on the trade talks between China and the USthat took place over the weekend. Trump floated in social media an alternative tariff level of 80% on Friday (compared to thecurrent 145%). Both sides have touted progress in the talks, but have offered few details so far.
Eurozone government bond yields were little changed and peripheral spreads remained flat, with ECB officials speakingduring the day in favour of a rate cut in June. US Treasury yields were also little changed, with the curve flattening slightly andFed officials reiterating the need for patience before changing interest rates, in line with last week's FOMC comments.
In the equity market, most eurozone indices posted modest gains, while US indices were largely flat. In the currency market,the dollar weakened slightly against its major counterparts and in commodities, oil prices rose on optimism over US Chinatrade talks.
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