FAST FIVE: Bonds & The Dollar Bid As Recession Risks Rise, Black Gold & Breakevens Battered

Published by on

Bonds & The Dollar Bid As Recession Risks Rise, Black Gold & Breakevens Battered An ugly third look at Q1 GDP  – higher inflation, lower growth and consumption – just added to the current malaise in growth fears (and forecasts from sentiment surveys) today and the recession trade was back on with oil and stocks sold and bonds bid (and the dollar rallied perhaps more on safe haven liquidity needs into quarter-end).

and initial claims which could be about to explode higher.

Source: Bloomberg 10Y Yields fell back below 3.10%.

Energy and Consumer Discretionary are signaling 'recession' trade.

Source: Bloomberg Oil tanked on the day – not helped by signs of gasoline demand destruction, higher US crude production, and rising product inventories – after an overnight gain on the back of reports that Iran nuke deal talks had failed (again).

Categories: ZH