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Content ID: PR_WCS01_UCM01126470

Daily Report 28.02.2020

Mercados antecipam novos cortes de taxas pela Fed e BCE

Mercados antecipam novos cortes de taxas pela Fed e BCE - 28.02.2020

Mercados antecipam novos cortes de taxas pela Fed e BCE  - 28.02.2020

Mercados antecipam novos cortes de taxas pela Fed e BCE

  • Concerns over the spread of the coronavirus outside China rattled markets again. Investors traded in a risk-off mood, volatility spiked to its highest level since August 2015 (when markets had been shaken by the risk of a sharp economic slowdown in China), and safe-haven flows triggered large losses in stock markets and a big decline in sovereign yields.
  • Global stock markets declined across the board. European stocks dropped by more than 3%, while the S&P 500's 4.4% daily fall was its largest since 2011. Brent oil prices also suffered and fell to $52.
  • In fixed-income markets, U.S. and German sovereign yields fell markedly while euro area peripheral spreads rose by more than 10bp. Markets are confidently pricing a 75bp Fed rate cut and a 10bp ECB depo cut by end-2020.
  • This morning, markets opened in a similar mood. The main Asian stocks continued to fall by 3% or more, yields on safe-haven bonds declined, euro area peripheral spreads jumped and Brent oil prices dropped to $50.