European govt bonds surge as US economic confidence dented
European government bonds surged as the market's concerns over economic growth in the US, the world's engine room over the last few years, were fuelled by disappointing economic news. While government figures showed the US economy grew by less than expected in the second quarter, a closely-watched survey indicated that the manufacturing sector in the crucial mid-west region retrenched sharply during August. Official figures from the US Commerce Department showed US GDP grew by only 3.3 pct in the second quarter on an annualised basis, compared with 3.4 pct in the original estimate. Analysts had not expected any change.
No comments:
Post a Comment