Monday Blues

Overview: The constructive mood among investors in April has given way to new concerns as May gets underway.  Japan and China are still on holiday, but most of the other markets in Asia fell, led by 4.5%-5.5% declines in Hong Kong and India, and more than 2% in most other local markets.  Australia bucked the trend …

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Greenback Demand Not Satisfied by Swap Lines

Overview: In HG Wells’ “War of the Worlds,” the common cold repelled a Martian invasion. Now, a novel coronavirus is disrupting everything and everywhere. Global equities continue to get hammered, though the apparent relative resilience of Japan may have spurred some buying of Japanese equities. Both the Nikkei and Topix posted gains, while equities in the …

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