Summary: Euro-zone composite sentiment indicator down a touch in July, slightly above expectations; Westpac: remains relatively soft compared to pre-pandemic levels; readings up in three of five sectors; up in three of four largest euro-zone economies; German, French 10-year yields fall; index implies annual GDP growth rate of 0.4%. The European Commission’s Economic Sentiment Indicator (ESI) is a composite index comprising five differently weighted sectoral confidence indicators. It is heavily...