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First Call March 18, 2020
- PERSONAL NEWS. MY DAUGHTER IS AT THE HOSPITAL GIVING BIRTH TO HER FIRST BABY
- Since we live in a quarantined world today, no family is allowed in the hospital so I'll be working all-day
- S&P futures trading limit down, off 3.7%, though SPDR S&P 500 ETF down 5.9% pre-market.
- Follows big gains in US equities on Tuesday with all of the major indexes up over 5%.
- Treasuries mixed, well off worst levels. Curve steepening again. 10-year yields back above 1%.
- European bonds under heavy pressure with Bank of Italy reportedly intervening.
- Dollar weaker vs yen but slightly better vs euro and seeing good gains elsewhere.
- Gold down 1.2%. WTI crude off 5.9%, hitting fresh post-2003 lows.