Daily Market Commentary

February 13, 2020

The gilt sell-off sparked by the resignation of Sajid Javid as Chancellor of the Exchequer pushed the U.S.-U.K. 10-year yield spread as low as 95.1bp, the tightest level since October 2017.

U.S. equities declined on Thursday alongside European stocks as officials in China deployed a revised methodology to diagnose the coronavirus, sending the number of confirmed cases soaring.

European weak economic growth is set to continue this year, the bloc's executive said, warning that a deadly viral outbreak could further dampen the outlook. The European Commission singled it out as a "key downside risk."

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