Ahead of US payroll tonight US and EU equity markets have traded in and out of positive territory, ending the day with modest gains/losses. There is a sense of daze and confusion with investors struggling for direction with geopolitics adding another layer of uncertainty. News that China may have fired missiles over Taiwan has not helped sentiment, but it hasn’t rattle markets either. As widely expected, the BoE lifted the cash rate by 50bps and retained the option to act forcefully in the future, the Bank now officially sees a recession in the horizon. Core yields have drifted lower with the belly leading the yield ... (full story)