Comments by the European Commission on trade
- Endorses imposition of additional duties on full list of US products notified to the WTO
- Expects to conclude relevant procedure in coordination with EU member states before the end of June so that new duties start applying in July
The tit-for-tat rhetoric on trade continues to develop but the market is largely ignoring in for the moment. Equities remain unphased as well.
The only negative on the day in European stocks is Italy's MIB - being down by 0.7% now as bank stocks weigh down the index once again, as a result of bonds slumping. Italian 10-year yields are now up by 10 bps on the day to 2.89% after having peaked at 2.98% earlier.
