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- Gold, Yen climb to 5-month highs as refuges sought
Gold, Yen climb to 5-month highs as refuges sought
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Loading...Gold and the yen rallied to five-month highs while Treasury note yields approached the lowest levels of the year as investors sought out traditional havens from geopolitical risks. The U.S. equity market’s standard fear gauge rose to the highest since November.
The yen strengthened versus all of its G-10 peers as U.S. Secretary of State Rex Tillerson said during a Group of Seven meeting in Italy that Russia must abandon its support of Syrian President Bashar al-Assad’s regime. Tensions also remain high in Asia after President Donald Trump said on Twitter that “North Korea is looking for trouble,” and that the U.S. would “solve the problem” with or without China.
Ten of 11 sectors were lower in the S&P 500, with real estate related stocks the only sector trading higher. The widespread decline sent the the CBOE Volatility Index, or VIX, to the highest level since the U.S. presidential election.
The Bloomberg Dollar Spot Index fell 0.3 percent, while the euro rose 0.1 percent.
The British pound was 0.6 percent stronger at $1.2484; data showed U.K. inflation’s upward trajectory paused in March.
The S&P 500 Index dropped 0.4 percent to 2,347.52. The benchmark gauge climbed less than 0.1 percent on Monday, while the VIX rose to the highest level this year.
source: Bloomberg
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