Global bonds rallied and stock markets were muted Monday, as sharp declines in manufacturing and services gauges across Europe fanned concerns about economic growth. Investors were wary of making big equity bets at the start of a week packed with major central bank policy decisions and corporate earnings. In Europe, advance readings of the Purchasing Managers’ Indexes showed the private-sector economy contracted more than anticipated in July in the euro area and slowed sharply in Britain. The figures sent investors scurrying for the safety of bonds, with the yield on German 10-year notes, the euro-area benchmark, as much as seven basis points lower, while […]
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