NESAN NAIR, SASFIN SECURITIES PORTFOLIO MANAGER

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The steadying of the US Treasury market and talk of economic stimulus in Germany and China helped lift Wall Street stocks on Monday.
Yields on the 10-year US Treasury note were solidly higher, rising back above those for 2-year notes, an improvement for an indicator seen as a reliable recession warning.
The Dow suffered its worst session of the year last Wednesday after yields on short-term US Treasuries briefly exceeded long-term notes, but since then, US stocks have risen the last three sessions.
Europe has a 70% chance of crashing into its second recession in the space of a decade, according to leading economist and bond expert, Mohamed El-Erian. El-Erian, Allianz's chief economic adviser, told Financial Newsthat Europe is "quickly losing momentum" and the EU is "teetering on the edge of a significant slump." The call comes at a tumultuous time for Europe, as Germany's central bank just warned Europe's biggest economy could well be headed for a recession after it contracted 0.1% last quarter.
22 Aug 2019 12PM English South Africa Business News · Investing

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