📆 Monday, November 27
► In Europe, the Stoxx 600 is trading lower, currently at -0.35%. New economic data raised concerns about the European economy, with Germany's GDP contracted more than expected last week, along with weak manufacturing data from France dampened sentiment. In addition, concerns about the Chinese economy and falling consumption in China are weighing heavily on export-oriented European economies. Government bond yields rose slightly, with the 10-year yield in Germany rising to 2.65%. We expect further information from Eurozone inflation data later this week.
► US equity futures indicated a cautious start to the week after the muted holiday trading, with US futures down by over more than 0.20% in early Monday pre-market trading. Our chief analyst Robert Lindner warned in the previous week that he only sees very limited upside potential for the rest of the year. The yield on 10-year government bonds is unchanged at ~4.495%. US markets are looking ahead to personal consumption data and the purchasing managers' index this week, which will be key for investor sentiment. Investors are also awaiting upcoming earnings from Crowdstrike, Salesforce and Dell – while the increasing hacking attacks on companies may have kept demand for cybersecurity high, falling corporate spending could weigh on Salesforce and Dell in particular.
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