MARKET WRAP: A little Bit Calm and Risk On Trade Back In Town


*Stocks recover some of their weekly losses after a tumultuous week   
*European bond yields continued to decline
 



Stocks

  • The S&P 500 Index recovered after suffering heavy losses during this week. The index soared over 0.47% of 15:15 London time.
  • The Stoxx Europe 600 Index led the recovery in Europe. The index gained 1.04%.
  • The UK FTSE finally opened after 30 minutes delay due to a technical glitch. It made a high of 7,067 and gained 0.39%.
Currencies
  • The Dollar Spot Index gained 0.51% as traders reacted to better than expected building permit data.
  • The Euro dropped again and remained below the 1.11. The low of the day was 1.1066 and it dropped 0.23%.
  • The British pound continued its bull rally. Investors are hopeful that no-deal Brexit will not see the daylight. The pair gained 0.40% of its value.
  • The Japanese yen moved lower by 0.20% to 106.32.
Bonds
  • The Yield on 10-year Treasuries gained eight basis points and moved to 1.5555%.
  • Britain’s 10-year yield soared to 0.465%.
Commodities
  • West Texas Intermediate crude lost another 0.22%. The risk on confidence in the equity space had no impact here.
  • Gold continued to remain the safe haven trade. However, it lost some its shine today and dropped by 0.48%.



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