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It’s been quite the turnaround since markets closed in the US on Wednesday. Into the Wednesday close, stocks were doing their thing, pushing to fresh record highs. But the news in early Asia of more deaths associated with the coronavirus and a big jump in reported cases, was enough to bring the risk on rally to a halt. read report
US equities continue to run higher into record territory and risk assets have been well supported overall. Though there is still concern around coronavirus fallout, it seems investors are feeling better about reports that the outbreak is peaking. Looking ahead, we get more testimony from the Fed Chair. read report
Into Tuesday, there has been some more relief around fallout from the coronavirus, with the number of new cases reported dropping to its lowest level since February 1st. Investors have been loving the news, with US equities once extending the record run. read report
All of the worry associated with the coronavirus and yet, risk assets have been supported in Monday trade thus far. There are a number of factors that seem to be contributing to this. Looking at the Monday calendar, we get some Eurozone confidence data and a batch of Fed speak. read report
This week’s record run in US equities has been rather impressive when considering ongoing stress associated with the coronavirus and calls for a major downgrade of China GDP forecasts. But it seems investors continue to focus on the positives. US jobs report ahead. read report
Another big push for risk markets, with US equities rocketing to another record high. This time, the run up has come from the combination of a less stressful outlook for the coronavirus, a strong batch of data out of the US, and China’s latest announcement that it would be rolling back tariffs it imposed on US goods back in September, by around 50%. read report
Tuesday’s rocket move in the US equity market was a big story, though things have cooled down into Wednesday as the market reflects on the latest price action. There has also been reason for investors to be a little more apprehensive today, with China PMI reads coming in soft and the PBOC draining liquidity to the tune of $4.3 billion. read report
It’s been a game of back and forth when it comes to sentiment over the past several days, with the market bouncing around as it tries to assess the extent of downside risk associated with the coronavirus. Into Tuesday, attempts to calm investors appear to be working. But will it continue for the remainder of the day? That's the big question. read report
The big question as this new week gets going, is just how much of a positive impact China’s weekend liquidity injection will have on risk markets. The China move comes in response to anticipated setbacks from the coronavirus. And as Monday gets going, we have seen a minor resurgence in risk appetite. But will it last? read report
The US equity market continues to prove just how committed it is to the trend, once again racing back after a short-lived dip. We’ve talked a lot about investor immunity to downside risk over the past decade, and we’ve been anticipating some sort of a trigger that might expose what we believe to be a stock market that's well overextended itself. read report
