Overview:
The G7 delivered up a nothing burger that was shortly followed by a 50 bp . The equity market seemed to enjoy it briefly and extended Monday’s dramatic gains, before falling out of bed. The lost about 2.2%, while the slumped 3%, but shortly after the markets closed, equities began recovering, and the recovery carried over to the Asia Pacific region and Europe. Although a few markets fell (, , and ), the extended its recovery into the third session. The same is true of Europe’s Dow Jones , which is up about 1.3% near midday in Europe. US shares are recovering, and indications point to a nearly 2% opening gain in the S&P 500.
Bond yields have tumbled after the US broke below 1.0%, and the Treasury yield fell to nearly 1.5%, and the global bond market rally continues, and European peripheral bonds are participating. All of the major currencies but the gained against the yesterday, but today, the dollar-bloc and are leading the move against the greenback. However,…
