Weekly Macro & Markets View
What were the key global economic data releases, what is Zurich’s view and what does this mean for financial assets?
Weekly Macro and Markets View, Week 22
Highlights and View
- 30yr gilt yields briefly touched the highest level since 1998 before falling back markedly
The fiscal situation remains fragile, but modest inflation, a weakening labour market and Andy Burnham’s supporting comments have helped to put a lid on gilt yields last week. - Eurozone economic activity indicators slow sharply, with the composite PMI at its lowest level since 2023
Weak economic activity data, combined with rising inflation, creates a difficult balancing act for policymakers. - China’s activity data soften notably in April but some early signs of stabilisation of home sales in top-tier cities have emerged
While losing economic momentum reinforces a fragile domestic growth backdrop and increases heavy reliance on exports, early signs of stabilisation in property are encouraging.
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