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30 Nov 2017
Volatility is returning - ANZ
Analysts at ANZ noted that volatility is returning to markets, with tech stocks selling off and global bond yields rising.
Key Quotes:
"The USD was mixed and commodities fell. Treasuries declined on the back of a spike in UK yields (on yesterday’s Brexit headlines) coupled with stronger US data and an upbeat Fed.
The yield on the US 10-year is currently up 5bps to 2.38%. The S&P 500 is currently down 0.1%, with tech stocks (-3%), offset by financials (+1.8%) and telcos (+3%).
The VIX lifted to 10.8. In Europe, bourses outside the UK rose around 0.2%, while FTSE 100 fell 0.9%.
Commodities were biased lower, with oil slipping 2.0% and gold down 0.8%.
Bitcoin surged to an all-time high of $11,434 before retreating back below $11,000."