Market comment - Trade tensions hit investor sentiment

Davy Research
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Yesterday’s ZEW investor surveys for Germany and the eurozone suggest that concerns over protectionism have dampened sentiment, falling to the lowest level since August 2012. The headline surveys declined sharply on the month, confounding expectations of a small fall. Nonetheless, we would not read too much into investor surveys, which have been overly pessimistic of late compared to other indicators which suggest that the eurozone is still growing at a decent pace.