Good morning! The yield curve still looks as inverted as it did a few hours ago, signaling a recessionary economic storm. Investors and therefore indices do not like this - to put it mildly ..
The currencies seem relatively calm at the moment, with only the Australian making a more solid move, against the backdrop of a healthy job market. The other major currencies are small change and are traded in narrow ranks, waiting for a clear catalyst to determine the direction of cash flows and their short-term movements.
With that being said, sentiment risk remains weak in the markets, as it was yesterday, leaving the bond market under control.
In my opinion, as the day progresses, the real sentiment of investors will be revealed, but for now, caution will peak. Is the panic exaggerated or not yet understood, but still, the recession will not hit us tomorrow, right?
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