Morning all.
I feel privileged to be reporting to you on this dramatic morning.
Some key developments:
133 people in Italy tragically lost their lives to the Coronavirus yesterday. Lombardy and other parts of Northern Italy are now under a travel ban.In better news, the number of new cases in China has reportedly collapsed.The number of UK cases rose from 209 to 278 on Sunday.Financial movements:
US Crude Oil is down 27% (not a typo) since Friday. Brent crude is down 26% at $33.50.The FTSE is currently set to open at around 6065, down 6.3% since Friday.The Samp;P is trading down 5% overnight.The FTSE MIB (Italian equity index) is down 8% overnight.US Government Bond Yields are hitting record lows, an indicator of bearish sentiment.
The US 10-year yield fell to less than 0.5% (it was 1.5% a few weeks ago), and the 30-year yield fell to less than 1% (it was 2% a few weeks ago).
This morning’s price action is likely to be dramatic, for obvious reasons, in the oil sector. Also worth watching are transports, hospitality and financials.
Sector indexes worth a watch:
FTSE 350 Oil amp; Gas IndexFTSE 350 Oil Equipment amp; Services Index
What I’m doing
I’m fully invested, so I’m…
Disclaimer: Please note all prices are for information only, they should not be relied upon for accuracy or trading. All prices quotes are based on CFD prices and are similar though not always identical to real exchange prices. STOCKTRKR or anybody connected with STOCKTRKR will not accept any liability for loss or damage arising from use of any information/commentary/charts or articles which is provided 'as is' for educational purposes only, nothing contained on this website should be considered as investment advice - please seek proper investment advice from registered financial broker or institution if you wish to trade on global markets and ensure you are familiar with the risks.
