Global stock market rally pauses, bonds edge higher on fears of second virus wave | Malay Mail

Wednesday, 13 May 2020 07:35 AM MYT

US stocks dragged global equity benchmarks lower after Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, told Congress the virus was not yet under control and that there would not likely be a treatment or vaccine in place by late August or early September. MSCI's gauge of stocks across the globe shed 1.31 per cent following modest advances in Europe and slight losses in Asia.

“While the fundamental fallout is historic, expectations remain low, and the fiscal and monetary policy response has been unprecedented.” Safe-haven assets such as government bonds moved higher as investors edged away from riskier investments. Benchmark 10-year US Treasury notes last rose 15/32 in price to yield 0.6795 per cent, from 0.726 per cent late on Monday.

Stupid wave

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