Marc Chandler 17. 07K Follower s Comments Summary The dollar (DXY) is mostly firmer, but for a change, the yen is the strongest currency, with the explicit threat of material intervention spurring some albeit limited short covering. All but a few EM currencies are lower, led by the Indian rupee (~-0. 80%) and South African rand (~-0. 60%). The largest markets in the Asia-Pacific region fell more than 2% today. Europe’s STOXX 600 (STOXX) is off more than 1%. It is selling off for the sixth session in the past seven. After posting larger losses early, US index futures have recovered in the European morning. S&P futures (SPX) are off fractionally and the Nasdaq futures (NDX) are down around 0. 25%. Bonds have caught a haven bid, including JGBs, where the very long-end is rallying for the first time in more than two weeks. Euro bond yields are 2-5 bp lower. The 10-year UST yield (US10Y) is near 4. 06%, down a couple of basis points. This is a new low for the month. Overview The sharp fall in global equities after the stunning reversal in the US yesterday is the main development today. The largest markets in the Asia-Pacific region fell more than 2% today. Europe’s STOXX 600 ( This article was written by 17. 07K Follower s Marc Chandler has been covering the global capital markets in one fashion or another for 25 years, working at economic consulting firms and global investment banks. A prolific writer and speaker he appears regularly on CNBC and has spoken for the Foreign Policy Association. In addition to being quoted in the financial press daily, Chandler has been published in the Financial Times, Foreign Affairs, and the Washington Post. In 2009 Chandler was named a Business Visionary by Forbes. Marc’s commentary can be found at his blog (www. marctomarket. com) and twitter www. twitter. com/marcmakingsense Comments Recommended For You.
https://seekingalpha.com/article/4846559-risk-off-friday?source=feed_all_articles
Risk-Off Friday
