Buoyant moods after the delay of US tariffs did not last long – equity indices sink on Wednesday after the data showed the German economy contracted in the second quarter and both US and US 2/10 bond spreads inverted (US for the first time since 2007) sparking recession concerns. The sell-off is led by ITA40 (-2.6%), followed by W20 (-2.5%), RUS50, DE30 (both -2.4%) and FRA40 (-2.1%). Silver prices increase again while yen is the biggest winner on the fx front.
Daily Summary - Previous metals rebound, FOMC still see cuts
Minutes FOMC: Further cuts are possible if inflation eases. EURUSD limits decline
US OPEN: Wall Street awaits FOMC minutes
DE40: DAX hits a 2.5-month high 📈 Rheinmetall jumps on renewed Russia–Ukraine tensions