#USD continues to hold onto recent gains, Stocks crashed (NASDAQ -4.17% Friday to close a miserable April and register its biggest daily loss since September and a weekly loss of -3.9%), Asian markets weaker (many closed due to Eid holidays) and European FUTS down over 1.5%. (UK closed today). Yields jumped higher and VIX soared over 7% to 31.30. Oil & Gold both rallied and then gave up all their gains. Weekend data - Chinese Manu & Services PMIs (47.4 vs 49.5 & 41.9 vs. 48.4) the worst in 2 yrs as lockdowns grip the economy. Berkshire Hathaway invested over $51bn in Q1 inc. Chevron (over $21bn), Occidental ($10bn), HP ($4.2bn) & Alleghany ($11.6bn). US House speaker Pelosi visited Ukraine promising support ‘until fight is done’.
Today – German Retail Sales, US ISM Manufacturing, EU Energy Ministers meeting, (Hungary would veto sanctions on Russian energy) Earnings from Italgas, Holidays in UK, China and many Asian countries.
Biggest FX Mover @ (06:30 GMT) #USDJPY (+0.49%) Rallied from lows under 1129.40.
