Scoreboard: Mixed messages

Wall Street followed European markets lower despite positive data, while US Treasuries rallied.

Stocks were belted on both sides of the Atlantic overnight but the price action seemed at odds with the news and dataflow, which was mixed. Take the economic data -- there was the bad: US industrial production fell 0.6 per cent in April after a 0.9 per cent gain -- 0 per cent was expected. Similarly, European GDP came in a little lower than expected, rising 0.2 per cent when 0.4 per cent was forecast.

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