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Wave of Risk-Off Pressures Equities Toward Overnight Lows

GLOBAL MARKET/OPINION

Markets erring on the risk-off side in recent trade, with the e-mini S&P returning closer to overnight lows of 3420.50. Risk-off evident in currency, commodity markets also, with WTI, AUD and CAD all inching lower.

No clear headline driver behind the move but energy and consumer discretionary firms are the poorest performing sector in the US which reinforces the defensive theme. Tsy yields hitting lowest levels of US trade, hitting 0.7974.

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