Headlines:
Markets:
- JPY leads, AUD lags on the day
- European equities decrease; S&P 500 futures down 0.4%
- US 10-year yields up 3.1 bps to 4.254%
- Gold down 0.1% to $2,069.43
- WTI crude down 0.6% to $73.62
- Bitcoin up 7.4% to $41,675
Gold and Bitcoin are the early movers to start out the brand new week, each surging increased proper off the bat at this time. The previous touched a contemporary all-time excessive of $2,148 however noticed the early spike retraced all the way in which again and is now sitting little modified just below $2,070. In the meantime, the latter continues to impress after a quick push above $42,000 in European morning commerce.
Each tickers have had a relatively shut correlation in buying and selling this 12 months, as outlined here.
As for broader market sentiment, the greenback was largely steadier as bond yields are additionally simply barely increased whereas equities are just a bit off the tempo to start out the week.
After fairly an aggressive quantity of price cuts priced in, markets now must look in the direction of central financial institution choices and key financial information within the subsequent two weeks to validate their argument.
For now, it is only a little bit of a light-weight breather earlier than we get to that.
USD/JPY stays stubbornly decrease although, down 0.2% to 146.50 ranges. However exterior of that, the greenback is sitting barely increased with EUR/USD down 0.1% to 1.0866 and AUD/USD down 0.3% to 0.6550 on the day.
Within the bond market, Treasury yields are barely increased however nothing out of the peculiar as 10-year yields are up roughly 3 bps to 4.25% for the time being. As for shares, the positive aspects over the past 5 weeks look to be consolidating a bit of at this time as traders eye the larger occasions developing later this week.
