Asian shares sank on Wednesday and bonds rallied as investor sentiment soured ov...
SYDNEY - Asian shares sank on Wednesday and bonds rallied as investor sentiment soured over growing worries about world growth with trade tensions between Washington and Beijing showing no signs of easing.
Italy’s dispute with the European Commission over its budget is also a major overhang for world markets. “What I see as more consistent is that typically when the yield curve inverts you get central bank easings. So the question about recession would be would the U.S. Fed ease enough to avoid a recession?” said Chris Rands, Sydney-based fixed income portfolio manager at Nikko Asset Management.
Data this week showed a gauge of U.S. manufacturing activity unexpectedly fell in May from the previous month. Analysts at Citi reckon punitive measures against China’s Huawei and other tech firms, as part of the tariff battle, could undermine global productivity growth.
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