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Published on Tuesday, January 21, 2020 | Updated on Wednesday, January 22, 2020

Market Comment | Risk-off mood weighed on sovereign bond yields

Market traded in a risk-off fashion on the back of rising worries about a deadly virus in China, amid the lack of relevant economic news. Consequently, equity markets slipped, especially Hong Kong’s Hang Seng index.

Key points

  • Key points:
  • Sovereign bond yields declined across the board amid virus outbreak in China.
  • Equity markets fell, especially the Hong Kong’s Hang Seng index. Volatility index remained low (VIX 12).
  • Positive Eurozone’s growth outlook and solid UK labor market data.
  • The CNY depreciated although it was still trading below the CNYUSD 7 threshold, while the GBP outperformed its G10 pairs.

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