Daily Report

28 de Janeiro de 2020
Daily Report 28.01.2020
  • Markets started the week on a risk-off mood, driven by concerns over the economic impact of the coronavirus outbreak in China. Volatility spiked, stocks slumped across advanced and emerging economies and oil prices dropped below $60.
  • Risk aversion also led to gains in safe-haven assets such as gold, the JPY and the CHF, as well as to lower sovereign yields in the U.S. and the euro area.
  • Italy's sovereign spread dropped by 15bp after the Lega failed to wrest the governorship of Emilia-Romagna from the PD in regional elections (investors feared that this could have triggered the end of the national coalition government.)
  • In Germany, business confidence declined in January according to the Ifo business climate index (95.9 points after 96.3 in December).