A macroeconomic week

Editorial Chinese-US tensions reappeared at the end of week following Trump’s signing of the bill supporting the demonstrators in Hong Kong , while the latest opinion polls on the UK elections grant a majority of the seats in Parliament to the Conservative party. However, Labour improved very markedly; it could be more difficult than expected to interpret the results. The markets slowly returned to risk-on mode as the macroeconomic news flow improved overall (US, EZ and EM). Next week, we will monitor the publication of the manufacturing sector ISM survey , which could approach the expansion of activity threshold.