The Nikkei falls back below the 23,000 mark
Fears surrounding the coronavirus outbreak continue to reverberate across markets and risk trades are largely suffering as a result. The fact that Facebook earnings wasn’t good enough – slower growth and profits guidance – only adds oil to the risk-off fire today.
US futures are down by 0.5% while Treasury yields are marked lower across the board following a sharp drop yesterday. 10-year yields are now at 1.568%, down by 1.5 bps.
As a result of the softer risk mood, USD/JPY is sitting around 108.92 currently – with focus turning to the 100-day moving average @ 108.75 once again.