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Gloomy European data hits stocks as pre-bonds: markets packing



(Bloomberg) – US stock futures have faltered and European stocks have receded as disappointing eurozone data eclipsed, alleviating concerns about US-China trade relations. The Treasury increased and the common currency slid.

Manufacturing numbers and services for the euro area did not reach their estimates on Monday, with disappointing indications from countries including Germany and France. The Stoxx Europe 600 index increased losses and European bonds recovered. The contracts for all three major US benchmarks canceled previous profits, which were boosted after people familiar with the matter said a planned visit to US farms by a Chinese delegation was canceled at the request of the US – news that eased immediate fears of prospects for trade negotiations.

Stocks in Asia were mixed and capricious, with Tokyo closed for rest. Shares in India continued to jump, while those in Shanghai plummeted. On the shore, the yuan fell amid caution over national holidays next week. Korea's profits sank as exports continued to deteriorate.

The grim data from the heart of the euro area were a stunning reminder to investors of the volatility of the global economy. While markets remain on the brink ahead of next month's high-level trade talks between the US and China, they are also targeted at any action or announcement from major global banks that could support growth. A number of politicians will speak this week.

"Global risks for growth are increasing," Beverly Morris, director of interest and inflation at QIC Ltd., told Bloomberg TV. in Brisbane. "These are certainly not panic stations at this stage, but we are certainly more cautious about our portfolio activities."

Elsewhere, oil is hesitant after a report that complete repairs to Saudi Arabia's facilities hit by drone attacks can take a lot.

Here are some key events that occur this week:

New York Federal President John Williams spoke at a US Treasury conference held at his bank on Monday. San Francisco federal president Mary Dali made the remarks in Salem, Oregon. The decisions are due Wednesday by central banks in New Zealand and Thailand. Thursday decides on monetary policy in the Philippines. The PCE – the Fed's preferred inflation measure – is forecast at 1.8%, its strongest since January. This is due on Friday.

Here are the major market movements:

Stocks

The futures of the S&P 500 Index were slightly changed at 6:27 am New York. The Stoxx Europe 600 index sank 0.9%. The Shanghai Composite Index fell 1%. The MSCI Emerging Markets Index fell 0.4%.

Currencies

The Bloomberg Dollar Spot Index gained 0.1%. The euro fell 0.3% to $ 1,082. The pound yuan declined by 0.5% to $ 7.127. The Japanese yen is up 0.1% to 107.48 per dollar.

Bonds

The yield on the 10-year treasury declines by three basis points to 1.69%. Yield for two years The Treasury reduced two basis points to 1.67%. Germany's 10-year yield declined six basis points to -0.58%. Brittany's 10-year yield fell seven basis points to 0.557%. Japan's 10-year yield remained unchanged at -0.207%. [19659016] Commodities

Intermediate stock in West Texas sinks 0.5% to $ 57.80 a barrel. Iron ore rose 1.7% to $ 90.10 an ic ton.Gold rose 0.1% to $ 1519.02 an ounce.

– With the assistance of Sam Kim, Matt Turner, Gregory Stewart Hunter, Adam Hay and Justin Vasquez.

To contact the reporter on this story: Samuel Potter in London at spotter33@bloomberg.net

To contact the editors responsible for this story: Samuel Potter at spotter33@bloomberg.net, Jacob Petersale

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