- STOCKS: European shares fall sharply, China’s indices ease back from 10-year highs, Wall Street edges higher.
- SHARES/SECTORS: Rotation into small caps continues, Russell 2000 outperforms. Nvidia shares +1% ahead of results, Keurig Dr Pepper slumps another 7% after buying JDE Peets.
- FX: Dollar slips across the board but closes off its lows of the day. ‘Safe-haven’ yen and Swiss franc outperform.
- BONDS: U.S. yield curve steepens as much as 7 bps, 2-year auction draws highest bid-to-cover ratio this year.
- COMMODITIES: Oil slides more than 2%, its biggest fall in three weeks.
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