Market wrap: a slump in the US, emails released by Donald Trump Jr. - ANZ

Analysts at ANZ offered a market wrap.

Key Quotes:

"Market movements were a little more volatile overnight with European equities down, US stocks mixed, US Treasury yields down, commodities lifting, and USD lower. 

Emails released by Donald Trump Jr. provided details about the events surrounding his meeting with Russian attorney Natalia Veselnitskaya which saw US equities turn lower after beginning the session stronger, then bouncing again. Major European bourses were down 0.1% to 0.6%, while US indices were unchanged at the time of writing after recouping earlier losses. 

The USD fell against EUR, while JPY rebounded after Lael Brainard’s speech. GBP fell after Ben Broadbent’s speech highlighted risks to trade rather than resilience of growth. 

Treasury yields fell around 2bps after gradually rising prior to Lael Brainard’s speech. Yields in Europe rose a few bps, while in Canada they dropped about 3bps across the curve. Oil was initially pressured lower by unfavourable price reports from Wall Street investment banks, but they turned higher later on."