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First Call January 3, 2020
- S&P futures are down 1.1%, following most global indexes lower but off worst levels.
- US airstrikes in Baghdad sparking risk-off moves across the board.
- European markets broadly lower after a mixed Asian session.
- Treasuries are stronger with a big bull flattening move.
- The dollar is better vs euro and sterling but down on the risk-sensitive yen cross.
- Gold up 1.3%. WTI crude up 3.6%, though off overnight highs.