Highlights
Markets in risk-off mode after unsurprising collapse of US-Iran peace talks and President Trump's threats to blockade Iran and widen the war. Oil prices surging, bond yields mostly higher but mixed as investors face rising inflation risk but also deflationary impact of energy shock on global economy. Stocks and risk assets broadly lower.
In US economic reports today, existing home sales due at 10 am with the Econoday consensus looking for a flat showing at 4.08 million rate for March versus 4.09 million for February. Quarterly corporate earnings season under way led by financials. Goldman starts things off with a beat in earnings but unfortunate weakness elsewhere adds to the gloomy tone in market; Iran war about to get worse and no respite from the nonstop turbulence of the Trump presidency.
Definition
Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.
Description
Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.