Daily Morning Call
From the Floor: Trump turmoil sparks broad risk-aversion — #SaxoStrats
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Political turmoil swirling around US President Donald Trump is spreading a wave of risk-aversion across financial markets, knocking global stocks sharply lower and driving safe-haven government bonds higher. Volatility is up sharply. The word "impeachment" is in the air, but a two-thirds majority in the Senate would be needed to remove the president.
- Significant risk-off mode sweeps across markets due to turmoil surrounding Trump
- Global equities sharply lower in high turnover; volatility spikes
- USD under pressure; JPY soars
- Government bonds rally in response across the board
- 'Too early to be circulating the impeachment word': Hardy
- Market re-pricing chance of June Fed hike, now down to 64.6%: Moltke-Leth
- US tension eases slightly as DOJ appoints special council to run FBI probe: Hansen
- Gold pares gains as DOJ’s appointment could ease sense of Washington paralysis
- Oil looks vulnerable as it fails to capitalise on bullish EIA report and weaker dollar
- Oil market pricing in 9-month output cut extension; unsure if Opec can implement
- Several ECB speakers slated for today