Manufacturers in Europe, Japan and the United States suffered in March as survey...
LONDON - Manufacturers in Europe, Japan and the United States suffered in March as surveys showed trade tensions had left their mark on factory output, a setback for hopes the global economy might be turning the corner on its slowdown.
German 10-year bond yields, which plunged on Thursday after the U.S. Federal Reserve signaled no more rate hikes this year, dived again to fall below zero.In New York, the spread between the three-month U.S. Treasury bill yield and the 10-year note yield narrowed to a 12-year low — a sign of concern among investors about the growth outlook.
The drop in the euro zone’s manufacturing purchasing managers index to a 71-month low of 47.7 from 49.4 in February raised the risk trade flows could turn even more negative in the short term, the Berenberg economists said. “The protracted weakness in manufacturing remains a lingering risk, and overall growth concerns are likely to intensify should the industrial backdrop further deteriorate. At the same time, Italy and Brexit woes remain non-negligible, the uncertainty a further drag on sentiment.”
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