Investors piled into safe-haven bonds, driving the 30-year US bond yields beneath 1% on bets that the US Federal Reserve will be forced to cut interest rates by at least 75 basis points at its March 18 meeting, after having already delivered an emergency easing last week.
The number of people infected with the coronavirus rose above 110,000, and 3,800 have died from the virus. There were mounting worries that US oil producers that had issued a lot of debt would be made uneconomic by the price drop.Noting that many central banks had little scope to ease further, Martin Whetton, head of bond & rates strategy at CBA, said “let's hope we start to see some more clarity on the reaction”.Markets fully priced in an easing of 75 basis points from the US Federal Reserve on March 18, while a cut to near zero was now seen as likely by April.
Source: News Formal (newsformal.com)
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TONY LEON: Getting sick from Covid-19 might help us bin political fantasiesThe more stringent the public health response, the worse the economic effects as our world contracts
Source: BDliveSA - 🏆 12. / 63 Read more »
Global stocks plunge as oil price skids even lowerEquities fall after Saudi Arabia launches an oil price war with Russia, sending already-panicked investors fleeing for safety May the world burn
Source: BDliveSA - 🏆 12. / 63 Read more »
Why Saudi Arabia has started a global crude price warBut why did the world’s top exporter decide to move so aggressively on crude discounts and output, with demand reeling from the coronavirus crisis?
Source: BDliveSA - 🏆 12. / 63 Read more »
Amplats force majeure to hit global PGM suppliesWorld number two PGM producer says it cannot meet contracted supplies after major problems at a critical plant in its processing division
Source: BDliveSA - 🏆 12. / 63 Read more »
Global equities slide as virus-weary traders lose appetite for riskInvestors drive 30-year US bond yields beneath 1% on bets Fed will cut interest rates by at least 75 basis points
Source: BDliveSA - 🏆 12. / 63 Read more »
US coronavirus cases pass 500 as defiant Trump praises responseThe number of confirmed US coronavirus cases soared past 500 Sunday, including two further deaths, as President Donald Trump defended his administration's 'perfectly coordinated' response to the epidemic. 😳🤦♀️🤣🤣🤣🤣 Yes yes it is in your pile next to your assholes. Those coordinate are correct
Source: TimesLIVE - 🏆 28. / 59 Read more »