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Research Perspective Vol.82

The second half of May was characterised by geopolitical events that mainly drove the markets. The U.S. treasury secretary highlighted progress in the talks regarding the imminent “trade war” between the U.S. and China, which boosted markets’ sentiment, but on the other hand the cancelation of the highly anticipated summit with North Korea increased concerns globally. Meanwhile, this uncertainty led investors to safer bets, consequently driving long-term treasury yields to lower levels. The sanctions on Venezuela by the U.S. led oil prices to a three years high, further boosting the shares of energy-related companies. European markets seem to be affected...