Global markets had a topsy-turvy run this week due to a busy news calendar, mainly on Chinese stimulus developments, earnings data, and major central banks’ decisions. Weekend headlines on geopolitical tensions greeted market players on Monday, triggering risk-off flows that accelerated when the People’s Bank of China refrained from taking action. A mostly positive U.S. earnings season sparked some risk-taking midweek, along with Chinese Premier Li Quiang’s calls for more decisive measures to stem the stock market rout. Soon enough, the spotlight shifted to flash PMI figures, inflation data, and top-tier U.S. reports, as well as their implications on longer-term global borrowing costs.
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