Resilient Activity, Noisy Policy

Global financial markets have remained steady over the past few days: equity volatility remains low, credit spreads remain contained and core yields have drifted rather than lurched, even as policy noise—especially around US trade—remains high. In our charts this week we focus on:

• Global growth momentum
• European bond markets
• South Korean trade
• Global labour market activity
• UK financial balances
• Equity markets and uncertainty