The below report consists of a market overview and insight into the equities, futures and derivatives markets, and FX speculative and deliverable markets.
HEADLINES
*Market meltdown gathered momentum as Equities slump, along with yields
-DOW off over 900 at one stage, b4 a mini recovery to -766, worst day of 2019
-USTs sees 10yr -11bps/1.74%, now 35bps lower from last week
-catalyst was Chinese quasi Yuan devaluation, seeing CNH trade above 7, (7.1114)
-Trump tweeted 4 times the phrase “currency manipulation” mmmm
*Chinese are not rolling over & if anything their resolve seems to be strengthening
-whilst Trump needs a…
