Macro News
Global: Last week ended with a significant sell-off in global equities, sending global yields to lower level, with the 10Y yields in Japan and Germany trading in negative territory, and the 10Y US Treasury pushing below the 2.4% support (according to Eikon Reuters), its lowest level since December 2017 and down 80bps since the beginning of November. One striking chart shows that the weaker-than-expected PMIs in Europe pushed the nominal amount of global debt trading below 0 percent to over USD 10tr, up approximately $2tr since the start of the year. We