Yields Bounce and Stocks Rally as Risk Aversion Abates

European yields moved higher, as European stock markets recovered some of their recent losses. With the EUR falling below 1.18 against the Dollar, investors moved back into Eurozone bonds, after risk appetite recovered during the Asian session. The FTSE 100 underperformed slightly as the Pound recovered and with retail sales coming in slightly higher than anticipated, Gilts underperformed and the 10-year had gained 2.3 basis points. The confirmation of Eurozone October HICP at 1.4% year over year had little impact and didn’t prevent Bund yields from moving higher.

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