Market comment | Regaining some lost ground as virus concerns lessen

Summary

Market sentiment improved somewhat, although caution prevails ahead of further measures from the Chinese government to support its economy and FOMC meeting minutes. Equities rallied, while safe-haven currencies depreciated, although investors continued to take shelter in bonds.

Key points

• Key points:
• China is considering further measures to shield its economy from the coronavirus.
• U.S. producer price index for final demand rose unexpectedly in January, boosting the USD against its pairs.
• Sovereign bond yields were broadly steady, ahead of FOMC meeting minutes later today.

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