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Risk-off Gathering Pace

EQUITIES

Risk-off really gathering pace in recent trade, with US stock futures sliding sharply and the USD getting a decent follow-through bid.

  • Gold failing to benefit, hit hard in recent trade and falling through the Friday/Thursday lows to trade around $40/oz off the day's highs.
  • No notable headlines crossing to prompt such a move - although markets have been noting that Tesla's debut in the S&P500 today is not off to a good start - with the stock off by just over 5% pre-market on likely profit-taking

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