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Global equity markets stabilized, and rebounded slightly after yesterday’s dramatic correction. The strong U.S. consumer confidence and regional manufacturing report boosted equity markets and sovereign yields today.
Increasing contagion fears boosted sovereign bond demand and significantly dragged commodities and equity markets, especially companies with exposure to China
In a negative knee jerk reaction, investors sought shelter in bond markets and sold commodities and transportation sector stocks
January 23, 2020
Market Comment | Virus contagion fears spook markets, amid absence of relevant drivers
Financial markets slid back as coronavirus contagion fears increased, ahead of the Chinese New Year. Equity and sovereign bond yields fell sharply, while investors increased the appeal for safe-haven currencies (JPY and USD).
Markets bounce back after yesterday’s sharp pullback as concerns about virus outbreak in China eased, although caution prevailed among investors. Meanwhile, robust US housing data boosted the USD, while safe-haven currencies lost steam.
Market traded in a risk-off fashion on the back of rising worries about a deadly virus in China, amid the lack of relevant economic news. Consequently, equity markets slipped, especially Hong Kong’s Hang Seng index.
Markets were generally steady because of a U.S holiday celebrating Martin Luther King Day. Therefore, sovereign bond yields and FX markets remained largely unchanged ahead of key economic events that will take place during the week.
January 17, 2020
Market Comment | Equity markets to record highs although bond yields see limited gains
Equity markets slightly extended the increases across the board during the week, underpinned by the final agreement on the U.S.-China phase one agreement, the improvement in the U.S. activity data (retail sales and regional PMI) and mixed company earnings.