As investors switch attention to the health of the U.S. consumer, a funk in China's economy, markets and currency appeared to deepen and emerging market ructions spread. After another disappointing reading for industrial production and retail sales this month, China's central bank scrambled to cut 1-year lending rates by 15 basis points to 2.50% - the second cut in policy rates in three months - and sent the yuan sliding to 2023 lows against the dollar.
Mizuho said it continues to look for some widening in the 10Y BTP-Bund spread towards the 195-200bp area on the back of the bearish pressure it expects will re-emerge in EUR rates once markets get to grips with two more ECB hikes.
BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks are likely to open higher on Tuesday as investors keep a close eye on the U.S. Federal Open Market Committee (FOMC) meeting that gets underway