Market Quick Take - August 7, 2020
Equity futures pulled back sharply late yesterday after aggressive new highs in the US trading session after US President Trump banned TikTok and WeChat for use by individuals or companies in the US, to go in effect in September. In Asia, mainland Chinese chairs suffered a weak session, led by WeChat owner Tencent, while risk aversion elsewhere was modest.
Market Quick Take - August 5, 2020
Gold prices rose to new record highs, with spot gold clearly 2,000 per ounce for the first time. After an early wobble on Wall Street, US equities closed at new highs for the cycle driven by technology stocks and the US dollar wilted, while safe haven treasuries were strongly bid, taking the US 10-year treasury yield benchmark to its lowest daily closing level ever at 0.507%.