Market Commentary - Q3 2019
➢ Growth concerns persisted, with even the US showing weakness in its manufacturing data.
➢ The US dollar strengthened despite two rate cuts from the Federal Reserve, as other central banks also cut interest rates.
➢ Government bond yields fell to new lows, with the yield on the 10-year German bund falling to minus 0.71%.
➢ The ECB announced a new stimulus program.