Risk appetites have been gradually waning this week. US equity losses mounted yesterday after Tuesday’s late sell-off. Asia Pacific equities were off, with many seeing at least 1.5% drops. Europe’s Dow Jones is off a little more to double this week’s decline and leaves it in a position to be the biggest drop since panicked days in mid-March. US shares are narrowly mixed, but coming into today, the is off 3.7% for the week, which, if sustained, would also be the largest decline in nearly two months.
Bond markets are better bid, and the US benchmark is off four basis points to 61 bp, the lowest in three and half weeks, despite the deluge of supply. European yields are off 1-3 bp. The is firm against nearly all the world’s currencies. The , among the majors, and the and in the emerging market space are the notable exceptions.
and are near five-day highs (~$1720 and $27 basis July WTI).
Australia reported a massive 594k While it was slightly more…