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The fear and panic around coronavirus fallout has intensified into Thursday, as extreme measures are taken around the globe to contain the outbreak. Investors have been spooked by President Trump’s travel ban, restricting flights from Europe over the next 30 days. read report
The market was optimistic about the news the US administration would be responding to coronavirus fallout with a substantial stimulus package, but has since been underwhelmed with what’s come forward thus far. This has set the tone for a resumption of risk off trade into Wednesday. read report
Investors are trying to look up into Tuesday, in the aftermath of Monday’s massive market fallout. The catalyst for this latest recovery attempt has come out of the White House, where President Trump has announced plans for a payroll tax cut and ‘very substantial relief’ for industries affected by the coronavirus. read report
Markets are in turmoil as the new week gets going. US equity futures have fallen through the floor, the major currencies are rocketing and OIL has collapsed. All of this coming from a culmination of events, with investors contending with a flurry of downside risk. read report
As we get set to close out the week, the trend has been US Dollar off, stocks off. Fallout from the coronavirus has shaken financial markets, and the week’s emergency Fed rate cut has moved yield differentials out of the Buck’s favour. read report
Governments and central banks continue to commit to doing whatever they can to ensure the global economy will be able to handle fallout from the coronavirus. For the time being, this has helped to stabilise risk assets, and even give them a little prop. read report
The big story into Wednesday is the Fed’s decision to move ahead with an emergency rate cut of 50 basis points, in an effort to offset fallout from the coronavirus. Unfortunately for stocks, the rate cut wasn’t able to produce the desired reaction, with risk off sentiment persisting. read report
It seems the market is less enthused about expectations for coordinated rate cuts around the globe. Look no further than US equity futures or the recovery in the Yen for an indication. The Reserve Bank of Australia has been the first to act, with the central bank slashing rates 25 basis points earlier today. read report
A massive slump in China factory activity was expected, which helped mitigate fallout from the release, despite the data series slumping to its weakest reading on record. We have seen more risk off flow early Monday, but all of it has been mild thus far, with US equities holding up well off the low from Friday. read report
Fear and panic levels have ascended to new heights into Friday, with US equities taking another nose dive and seeing their worst weekly performance since the onset of the financial markets crisis of 2008. The S&P500 index is now off about 15% from its record high just the other week. read report
