Daily Alert – Wednesday 8th April 2020: Equity index bullishness fades in the face of reality

Mark NugentApril 2020, Daily Alert

Daily Alert – Wednesday 8th April 2020: Equity index bullishness fades in the face of reality

Yesterday was moderately risk on with equities and the US10Y yield rising. However, equities pulled back towards the end of the day, ending up flat. As predicted, the over-egged bullishness in equities has not endured.

WTI does nothing ahead of the expected OPEC+ production cut tomorrow.

FX is choppy and there is little volatility.

It’s a quiet week and many territories have Easter on Friday so I think tonight is the last time to look at trades for this week. I’ll be taking another look at the JPY/commodity currencies situation.

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