- Friday’s stock pull-back signals strong investor uncertainty
- Traditional havens such as yields, yen, gold rise
- Economic data will begin pouring in showing coronavirus devastation, including unemployment and consumer sentiment
Though stocks pulled back during the final hour of trade on Friday to finish the day lower, U.S. equities enjoyed their best rebound in over a decade during the course of the week, as risk appetite appeared to have returned to markets. Of course, that could simply be a short-term development fueled by Congress passing the in the country’s history, finalized on Friday and designed to help compensate workers and companies for the hefty economic hit from COVID-19.
Still, a measure of U.S. consumer confidence released on Friday, the fell the most since 2008. At the same time, slumped, resulting in a fifth straight week of losses. And the dollar had its worst five-day skid since 2009.
No surprise then that safe havens such as the Japanese yen and gold…