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Guess who's back.. Back again..
Good day, everyone! Hope you're all doing well as we get things going in the session ahead. Risk aversion is taking hold in the market once again as the US steps up containment measures to counteract the spread of the coronavirus in the country.
Trump announced that they will ban travelers from Europe over the next 30 days and a bit of a communication mishap certainly didn't help with confidence in the market today.
US futures are pointing towards another rough day, down by 3.5%, while Treasury yields are also sitting lower with 10-year yields now at 0.78%. That said, one has to wonder, have we seen a bottom in yields already at the start of this week?
That will be a key debate in the market over the next few weeks but with the virus situation still dominating the headlines, I can't imagine yields running too high up - though you can't rule out a sharper retracement if the situation sees fit.
In the currencies space, the yen and franc are continuing to stay bid with the dollar still trying to sort out its footing on the week.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.
