The ‘s longest advance this year was stopped seemingly as concern that the flare-up in the virus will slow the recovery. The sell-off in airlines and hotels helped spur a broader bout of profit-taking. Most Asia Pacific bourses advanced, led by the continued rally in Hong Kong and China. Europe’s Dow Jones is posting its first back-to-back decline in nearly a month. Benchmark yields are mostly 1-2 bp softer, but China and the US are exceptions. China’s 10-year yield is pushing above 3%, while the US yield is slightly higher near 65 bp.
The is posting minor losses against most of the major currencies in the European morning but largely confined to yesterday’s ranges. The Antipodean currencies and sterling are underperforming. The Mexican peso and are leading most of the emerging market currencies higher, though Turkey, India, Taiwan, and several central European currencies are nursing small losses.
is pushing above $1800 for the first time in nine years. Rising…