Global equity markets rose as the pace of COVID-19 cases in some countries slowed. The S&P500 is currently up 6.1%, bond yields are higher, commodities are mixed, and AUD and NZD have followed the rise in equities.

Global equity markets ended the day lower, with the US S&P500 down 1.5%. Data showing a plunge in US jobs added to the negative tone, markets poised for an even worse outcome in April. The US dollar rose, as did oil prices, while US bond yields were rangebound.

US equity markets were initially dampened by weak job-loss data but then supported by a large rebound in oil prices. The S&P500 is currently up 1.2%. The US dollar rose, as did commodity prices and US bond yields.

The risk averse mood continued as the expected duration of lockdowns in Europe and the US lengthened. The S&P500 is down 4.4%, and US bond yields, commodities, and risky currencies are lower.

Positive sentiment in Asian and European equity markets failed to extend to the US, the S&P500 currently down 1.1%. Month-end rebalancing may have been a factor. Commodity prices were mostly higher, and US bond yields fell, while currencies were mixed.

US and European equities rose amid optimism that COVID-19 containment measures would eventually be successful, with quarter-end rebalancing perhaps also contributing. The S&P500 is up 2.9% and Eurostoxx50 +1.4%, while Australian equities rose 7.0% following the government’s large stimulus package announcement. Commodity prices and bond yields remained subdued, while the US dollar rose.

Markets ended Friday on a sombre note, with US equities reversing sharply during the last hour of trading. The S&P500 closed down 3.4%, and European equities closed down 4.2%. Commodity prices, bond yields, and the US dollar also fell, the latter allowing the AUD and NZD to perform well despite the risk averse backdrop.

Market sentiment was mixed across asset classes. Positive moves were seen in European equities which rose 1.7%, the S&P500 which is currently up 4.2%, and the safe-haven US dollar which is down 1.5%, Global bond yields are lower, though, as are major commodity prices. The US Senate unanimously approved the rescue bill, the House to vote on Friday. US jobless claims data jumped by a record amount – the first hard data reflecting the economic toll since shutdowns started.

Market sentiment improved further after US lawmakers agreed to a $2tr stimulus package yesterday. Germany also pledged significant support, relaxing its debt rules. Chinese equities closed up 2.2%, European equities up 3.1%, and the S&P500 is currently up 4.5%. The safe-haven US dollar fell, global bond yields were mixed, and commodities rose.

Market mood improved amid expectations that US politicians would agree on a significant spending bill to help the US economy through the COVID-19 crisis. Chinese equities closed up 2.3%, European equities up 9.2%, and the S&P500 is currently up 7.0%. The US dollar fell slightly, and bond yields and commodities rose.