After a recovery on risk assets yesterday, there is far more of a cautious feel to major markets this morning. Selling risk assets into strength has been a consistent theme as key data has continued to paint a picture of mounting recession risks. Nonfarm Payrolls will be in focus today.
Markets are looking pensive at the start of the new trading week. A strong close on Wall Street on Friday has been tempered by a concerning set of Chinese PMIs whilst there is a raft of tier-one data in the days ahead.