Market Overview

5 June 2020

US-China Tensions Rise Again

Yesterday was marked by a feeling of risk aversion. The United States plans to block Chinese airlines from carrying passengers to and from the United States as of June 16, on the grounds that China has not allowed American airlines to fly to Chinese territory.

Most equity markets appreciated in the United States, with the Dow Jones index increasing by 0.05 %, the S&P500 index fell by 0.05% and the technological Nasdaq index lost 0.34%. In Europe, its benchmark index - Stoxx 600 - closed in the red at 0.77%.

In the debt market, investors have moved away from most countries where it is possible to observe yields gaining value.

Oil traded mixed on news that OPEC + is tentatively planning to have a meeting via videoconference on Saturday and this may give some support to prices.

“Gold” was rising yesterday - so it is true to its normal correlation with market sentiment.


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Frederico Aragao Morais
Market Focus
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