MORNING BID EUROPE-Nagging doubts

Not all’s rosy in the garden. Record-high world stock markets stepped back from their latest peaks on Wednesday, fearful that the year-end rally had assumed a U.S.-China trade deal that’s far from guaranteed. A drop in oil prices, poor U.S. retail earnings, declining Japanese exports and an equivocal reaction to the UK election’s first live TV debate all added to a note of caution on Wednesday.