March 11, 2020
- Equities rebound after a selloff in Asia
- BOE cuts 50bp
- -2.27% 2.20%
- UST 10Y 0.72%
- Oil $34/bbl
- Gold $1658/oz
- $7865
Europe and Asia:
- GBP UK BOE cuts 50bp
- GBP UK GDP 0.0% vs. 0.2%
- GBP UK MP -3.6% vs.-3.5%
North America:
A big wave of newsflow from Asia and Europe today that involved failed promises from US, emergency rate cuts from BOE and dire warnings from ECB chief Lagarde but the overall impact on assets has been relatively muted with equity futures bouncing off the bottom but still more than 1.5% off on the day while rebounded above the 105.00 figure.
The day started with a decidedly risk-off slant as markets were disappointed that President Trump did not show up at the press conference to address stimulus measures against the coronavirus slowdown. The absence of US leadership is creating a clear vacuum in the markets and other authorities are trying to step into the void to calm financial markets and restore a semblance of trust and confidence in a system…
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