Solid Chinese PMI Lists Riskier Assets

Bund yields erased early gains and dipped on slightly lower than anticipated Eurozone inflation numbers, which counterbalanced strong job reports for Germany and the Eurozone as a whole. Eurozone peripheral bond, but also stock markets, amid a wider rise in European equities. Weaker than expected inflation data out of the Eurozone helped the DAX to rise while the FTSE 100 underperformed as hopes of a smooth Brexit continue to push the pound higher. Oil prices advanced and WTI is trading at USD 57.84 as OPEC signaled readiness to extend output cuts. U.S. stock futures are also moving broadly higher as U.S. tax reform plans remain in focus.

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