The below report consists of a market overview and insight into the equities, futures and derivatives markets, and FX speculative and deliverable markets.
* Equities plummet finally playing catch up to the Bond markets moves
– DOW -3.3%, NASDAQ almost 4%, Euro -3.8%, Italy -5.4%Korea -3.8%….
– 30yr US Treasuries hit record low 1.82%, 10yr -12bps/1.36%, German 10yr -5bps/-0.48%
– Market pricing Fed 25bps cut in June and 2nd cut in November
* Global economic outlook continues to deteriorate as COVID-19 spread widens
– No longer a Q1 impact risk but Q2 and Q3 likely…