 ECB's massive coronavirus pandemic program do have notably impact on peripheral bond markets. In particulars, Italian and Spanish bond yields dropped sharply today, with Italy 10-year yield back below 1.9% currently, Spanish 10-year yield below 0.9%. The boost to other markets is not that apparent though, as European stocks are quick to reverse initial gains and turn red. In the currency markets, selling focus has indeed turned to Euro now. Technically, EUR/USD breaches 1.0777 low, which suggests that larger up trend is likely resuming. Deep retreat is also seen in EUR/GBP after hitting 0.9499. Nevertheless, for today, commodity currencies remain the weakest ones, led by New Zealand Dollar. Dollar is the best performing one. In Europe, currently, FTSE is down -1.86%, DAX is down -1.04%. CAC is down -0.68%. German 10-year yield is down -0.0007 at -0.218. Earlier in Asia, Nikkei dropped -1.04%. Hong Kong HSI dropped -2.61%. China Shanghai SSE dropped -0.98%. Singapore Strait Timed dropped -4.73%. Japan 10-year JGB yield rose 0.0236 to 0.091. |
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