The below report consists of a market overview and insight into the equities, futures and derivatives markets, and FX speculative and deliverable markets.
* Equities slump for fourth day in a row as COVID-19 continues to take centre stage
– Daily economic downgrades, fresh travel bans and corporate earnings warnings
* Markets expecting Monetary stimulus, greater than 50% now priced for April Federal Reserve cut
– With three full cuts now priced in US, NZ has 2 ½ cuts fully priced…..
* US Treasuries hit fresh lows, 2yr -6bps/1.18%, 10yr -5bps/1.32%
* Kiwi holds range 0.6300/60 but…