Risk assets take a beating. U. S. Stock features plummet limit dad down amid a selloff. Europe points to more losses and Oil Nosedives below 30 in new york as an opec plus breakdown see saudi arabia prices saudi arabia slash prices. The entire Treasury Curve sits below 1 for the first time in history. The yen surges the highest level in three years and gold briefly tops 1700 an ounce. Billion in counting. That is how much governments have pledged to pump into the Global Economy to combat the coronavirus. But is it enough, the current market verdict is absolutely not. Awaye just under an hour from the start of cash equity trading in europe and u. K. Lets take a look at futures. A sea of red everywhere you look for risk assets. Seene personally never futures this low. Of course i was not here for the financial crisis, but we have more than 6 drop across the board. Features down seven and a quarter percent. Drops inmassive futures. Said,o see futures, as i limit down in the u. S. They bum
Sector is feeling some pain from trade. Lets check markets because we are to have a negative Market Impact overnight. Given the heightened geopolitical tensions, we saw the 10year yield dropped. Were back to 1. 81 right now and rising once more. Treasuries selling despite that manufacturing data. We have the s p 500 down 0. 7 . The only sector that is positive is energy. Not that strange when you think oil prices are a few bucks higher. The dollar index is close to 97. The yen is stronger. Most currencies are weaker versus the u. S. Dollar, which is acting as a safe haven. Gold as to point to well because you can see gold is up another 1. 2 . We are close to the 1515 mark. Crude 63. 60. We are off of session highs. Rent trading 68. 81. Big reactions on the treasury markets. Isn is significantly weaker. Stocksxx 600, european are down. Airline stocks are suffering the most. Risk off toassic geopolitical events in the middle east kind of day for these markets. Just day two of 2020. Vonni