Lacklustre markets devoid of thematics

Lacklustre markets devoid of thematics

There continues to be no great concern on the economic front though the European economies have lost some steam over recent months. Germany reported that factory orders dropped 2.5% in April and Eurozone growth was 0.4% in Q1, down from 0.7% in Q4 2017. The European Central Bank has declared an end to its three year 2.4tn Euro stimulus program by the end of the year, but at the same time the aforementioned softening has promoted statements that suggest interest rates will remain unchanged until well into 2019.
In contrast to Europe, growth in the USA seems to be continuing to improve with low unemployment levels and US retailers reporting a 0.8% lift in retail sales in May, being the biggest jump in six months. Fears of trade wars don't seem to be holding back enthusiasm in the USA.