Global market snapshot: US bond market recovered losses - ANZ
|Analysts at ANZ explained that the USD gave back its post-FOMC minutes gains vs EUR as the market digested the fact that their substance didn’t differ from the tone of the February statement.
Key Quotes:
"St Louis Fed President Bullard also questioned the market’s growing view that rates may have to rise four times this year.
On a short-term basis, movements in EUR/USD seem to be mirroring movements in US equities, rising when equities sell off and weakening when they rally.
The bond market also recovered its losses and at the time of writing the 10-year yield is down 4bp at 2.91%.
US equities performed better and at the time of writing, the S&P 500 is up 0.7% and the Dow Jones 1.1%.
European bourses underperformed: the DAX was off 0.1% and the FTSE 100 fell 0.4%.
Oil jumped in the last few hours on a surprise US supply drop, with WTI up 1.7% at USD62.7/bbl. Gold rose 0.5% to USD1331.0/oz."
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