US

What mattered last week: After strong gains the previous week, U.S. equity markets fell 2.1% as the COVID-19 crisis deepened. However, volatility continues to subside from the extreme levels of March and a reliable measure of overall volatility, the VIX Index has dropped over 45% from recent highs.

Risk assets look unlikely to reclaim their solid advance out of the gates in 2020 anytime soon

What mattered last week: After six straight weeks of gains, U.S. stocks closed marginally lower last week as optimism surrounding the U.S. – China trade deal waned. Fuelled by confusion around tariff rollbacks and the amount of agricultural purchases China will make from the U.S. Data wise a weak composite Eurozone PMI on Friday overshadowed a much needed pick up in the manufacturing sector PMI.

市场一览：白宫经济顾问评论推高股市

标普500指数强力上涨的同时出现了短线势竭的信号，但观察领涨与落后板块后我们发现，近期创下新高背后的驱动力已经发生了变化。

高于预期的美国就业报告推动美国股市和欧洲股市一样在期货市场上涨的基础上走高。

What mattered last week: U.S. stocks rallied for a third straight week, supported by good September quarter earnings reports and increased optimism that we may have seen a low point in global growth. As well as good news on the trade front with President Trump confirming trade talks are progressing well and that China “want to make a deal”. Despite a setback to the Brexit timetable last week most agree that the Boris Johnsons Brexit deal will be passed before year-end.

股市截至下午2:17的概览

对美国大盘股财报的悲观情绪并未反映于股价当中

沙特“快于预期”恢复产量可能是把双刃剑

What mattered last week: Positive news flow continued last week with both China and the U.S. making trade war concessions which helped the S&P 500 close in on its July high. The ECB announced significant monetary policy easing measures which exceeded all expectations, including QE to continue for as long as needed. The removal of National Security advisor and policy hawk John Bolton goes some way to validating reports that President Trump was considering easing sanctions on Iran.

The ‘value’ bounce may be fading already

These conditions may be the best that risk buyers will see this quarter

Currency markets have been dominated by the latest Brexit dramas

超大型科技股在2019年大举反攻

美联储会议记录、鲍威尔证词与加拿大央行会议，这些事件将一一揭晓，并置美元/加元于交叉火力之下。

有关美国国会可能挑战特朗普对墨西哥征税决定的消息逆转了“饱受摧残”的美元的命运，助其兑某些货币创下一系列潜在反转形态。

由于特朗普对墨西哥商品发起新的征税威胁，股指期货全线下跌。