Risk off reigns
Black Friday sale hits the markets. Did you grab a bargain?
Europe's Stoxx 600 sees worse day sine June 2020Dow saw the biggest one day drop since Oct 28, 2020Nasdaq closes with biggest one day drop since Sep 28
It's a greek letter
So the rumours was it was going to be called Nu (another greek letter that looks like this 'v') . The next letter after Nu would be Xi. It looks weird, and I don't know the unicode for the keyboard, but here is a picture of...
and quicker rate hike expectations on virus fears. The weekly chart is showing a strong rejection of 115.00 and, if the close is right, a bearish engulfing bar taking in over a month of price. Technically this opens up a re-test of 112 for next week.
This is good
It means we should find out pretty quickly what the true risk is of this new variant
This whole saga could disappear as quickly as it has come if the vaccine is found to be effective against the variant.
WHO press release due, according to top SA scientist de Oliveira
Talk about a panicking market! Risk off selling has stalled for now as markets take some comfort from some recent headlines over vaccine work and anecdotal evidence suggesting new variant is not necessarily a big threat. Still too many...
This sounds promising
This is good.
Remember that it is going to be hospitals and deaths that markets are most concerned about - not merely transmission. Does the vaccine still work, that's what everyone wants to know
This has not halted the steady risk off tones which are now continuing. Pretty unclear what it means to those outside of the National Virology Consortium. Expect scientists to be going through this with a fine tooth comb over the weekend. Oil at fresh lows, Dow at fresh...
Down over 7% on the day
If the world goes back into lockdowns then oil demand will tank sharply lower. y hits risk and sends US oil down through daily lows. Price is at daily support around 72.50. Next key support sits below this at 67.00
Risk hit a little more
Equity markets pushing back towards daily lows on this headline. WHO is still meeting and set to give their verdict at some point today. Expect it to move the risk needle again when the WHO comment breaks
1/3 of a year
Ok, so that is a rough timescale in case this blows up. Also remember that BioNTech expects dat from lab tests on new South African COVID variant in two weeks and that may require a vaccine adjustment.
Pill is a hawk and has stressed earlier in the month about the risk of delaying too long on interest rate hikes (Nov 15).
Currently 65% chance of 10bps hike in December and Sonia futures pricing in just under 1% rise for next year.
That would make Belgium the first European country to detect the strain
According to The Telegraph . As mentioned earlier, as much as the EU says it would want to shore up border controls to prevent the latest virus variant from entering, little do they know that it has already...