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| Commodity News |
| HeadLine : |
Dollar thrives, Aussie trampled in rush for liquidity |
| Date : |
Mar 18 2020 |
The pound and safe-haven yen made the best efforts at recovery, but only managed to recoup fractions of their losses. Dislocation in the U.S. bond market, where the yield on government debt has gyrated wildly for the past week, illustrates the desperation for cash, he said, even as the U.S. Federal Reserve pumps huge amounts of liquidity into the system. The yield on benchmark U.S. 10-year Treasuries jumped 34 basis points higher overnight, the largest single-day rise since 2004 - further illustrating how massive selling is testing liquidity in even the deepest and broadest markets. Spreads for the Aussie and yen also widened dramatically. Risk currencies were also pounded with the mood, and nursed deep losses on Wednesday.
Source : Investing
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