Revised UK Inflation Data Buoys the Pound

Eurozone bond yields are coming down, led by Spain, as investors discount Catalonia secession risks, which is also helping other Eurozone peripherals. Bunds meanwhile shrugged off stronger than expected German production which buoyed the Euro. European stock markets are narrowly mixed. The Spanish IBEX is outperforming while the DAX is moving sideways at very high levels, with strong production data session not sufficient to push the index above the 13000 mark for the first time. The Euro Stoxx 50 is unchanged and the FTSE 100 down with a stronger pound weighing on U.K. markets. This followed a largely positive session in Asia, where the Hang Seng underperformed as Chinese markets reopen after a week long holiday and the Shanghai Composite rallied in catch up trade.

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