The European Securities and Markets Authority (ESMA), the EU's securities regulator, has published the second Trends, Risks and Vulnerabilities (TRV) report for 2019. The report identifies a deteriorating outlook for the asset management industry and continued very high market risk.

The ECB's new stimulus package adds to top-line challenges for European banks though the measures should support loan quality and asset valuations, says Scope Ratings.

Mr. Granger will lead PIMCO's quantitative team and focus on enhancing the firm's use of quant strategies, building on PIMCO's deep resources and years of expertise in this area

M&A patterns are also showing healthy dynamics. A healthy number of hostile deals (usually riskier but more profitable) tends to concentrate on smaller targets. Jumbo deals are increasingly funded by stock and cash combinations, also favorable for arbitrageurs.

The monthly data published at the start of the second quarter are fairly mixed and show no tangible signs of growth momentum improving in China. The GDP published for the second quarter has recently confirmed this sentiment. The slowdown at work since the start of the decade is continuing, but not accelerating.