European markets in negative territory as investors assess economic outlook
Germany -0.65% German January construction PMI 43.3 vs 41.7 previously; German December Industrial Orders +3.2% vs. +2.0% monthly
European Union Stoxx 600 0.55% off in early trading, with most sectors and major stock markets trading in the red. Technology, retail and travel and Entertainment stocks led the losers, while oil and gas quickly bucked the trend and rallied before falling into the negative territory.
Upcoming in session: UK Construction PMI is expected soon, French Government Budget Balance and Euro Area Retail Sales on the charts.
In the bond market, the 10-year US Treasury bond yield rose 3 basis points to 3.57%.
German 10-year yields rose 6 basis points to 2.23%.
The UK 10-year yield rose 9 basis points to 3.14%.