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Rising Risk Appetite Boosts Stocks, Knocks JPY and US Treasuries

Rising Risk Appetite Boosts Stocks, Knocks JPY and US Treasuries

2019-03-12 09:30:00
Martin Essex, MSTA, Analyst
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Market risk: news and analysis:

  • As optimism grows about a Brexit deal, traders are shrugging off concerns about a weakening global economy and trade wars.
  • That is leading to a flow of funds into riskier assets like stocks from havens such as the Japanese Yen and US Treasury debt.

Stocks in demand

Traders are shifting tentatively into so-called “risk assets” such as shares from safe havens like the Japanese Yen and US Treasuries as optimism about a Brexit deal between the UK and the EU outweighs ongoing concerns about a slowing global economy and the trade disputes between the US and other countries.

In Europe, Frankfurt’s DAX stock-market index and Paris’s CAC 40 were both up 0.2% mid-morning Tuesday, although London’s FTSE 100 was knocked back by a firmer British Pound to trade down 0.3%.

By contrast, yields on US Treasury notes and bonds rose by between two and three basis points from two-year debt out to 30 years as traders shifted from government bonds into stocks. Similarly, the Japanese Yen lost ground as hopes of more stimulus from China continued to boost confidence and reduce the appetite for havens.

USDJPY Price Chart, 30-Minute Timeframe (March 8 – March 12, 2019)

Latest USDJPY price chart.

Chart by IG (You can click on it for a larger image)

There were exceptions, however, with the price of gold edging higher after its recent falls.

Gold Price Chart, 30-Minute Timeframe (March 8 – March 12, 2019)

Latest gold price chart.

Chart by IG (You can click on it for a larger image)

Looking ahead, much will depend on the Brexit votes taking place this week in the UK Parliament. If Prime Minister Theresa May wins support for her Brexit deal, risk appetite will likely continue – if not, havens will likely be in demand again.

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--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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