Trade tensions up
Fiona Cincotta August 5, 2019 10:16 AM
Investors fleeing for safe havens
European markets were all down on trade fears, as investors headed for the bond markets. The 10-Year government bond yields fell to all-time lows, with Germany at -0.488%, Netherlands -0.376% and France -0.256%.
The FTSE was down 1.29%, and sterling gained up to 1.22 against the dollar, on increasing speculation that Prime Minister Boris Johnson is planning for a snap election after taking the UK out of the EU on October 31st, which investors are hoping may bring an end to the ongoing Brexit saga.
Gold bucked the trend by increasing to a 6-year high of $1,453, as central banks bought a record amounts on persisting global trade tensions. Crude fell to $55/barrel on shrinking global demand.
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