The risk-off vibes reverberate in early trading

  • German DAX futures -2.2%
  • UK FTSE futures -2.2%
  • Spanish IBEX futures -2.3%

The equities rout is extending as we get into European morning trade, with US futures seen down by ~3% currently and that is weighing on the risk mood in general.

10-year Treasury yields are also down by nearly 5 bps to 0.654% and that is helping to keep the Japanese yen underpinned alongside the dollar in trading so far.

Coronavirus jitters are stealing the headlines as we get the week going and that is all helping to keep the pressure on risk assets following what we saw on Thursday last week.