Market seeking signs of the economy's reopening — Mr. Yenzo

Risk appetite driven by expectations of partial reopening of economies across countries.
The trend is there, but movements are mixed..
News of shops reopening in France.
Portugal lifts the state of emergency on May 3.
Spain to gradually lift city lockdowns.
Russia's city lockdown two: after two major extensions, moving toward phased easing.
Preparations, etc.
European stock indices broadly rose.
Italy's government bonds: S&P kept the rating, outlook negative.
Meanwhile, Fitch downgraded to BBB−
one notch above junk.
Italy's sovereign yields declined, but moves around Italy and related factors are weighing on the euro.
Moves around Italy and related developments are weighing on the euro.
Perhaps.
Even as the dollar is sold, EURUSD is hovering in the 1.08s.
It remains weak against other currencies.
This is the current situation.

U.S. stocks: Dow down 32 points, Nasdaq down 122
points, S&P 500 down 15 points.
and fell.
The Conference Board released the April U.S. consumer confidence index.
It fell sharply to 86.9 from 111.8 in March.
This drop was significant.

There was a U.S. 7-year note auction yesterday, but demand was solid.
The U.S. 7-year yield fell from 0.654% to 0.6161%.
This week there will be Treasury auctions; depending on supply-demand dynamics, Treasuries may be sold (yields rise), but the market remains firm.

The pace of the Fed's Treasury purchases from March 19 to April 1 was $75 billion, and last week the pace fell to $15 billion.


and may be gradually moving toward normal mode.
perhaps.

Today is the FOMC; the basic stance is to hold rates.
How long the zero-rate policy will continue is in focus.
In addition, expansion of lending facilities to small and medium-sized enterprises and local governments
and whether there will be support for mortgage loan servicers.
These are key points to watch.
We plan to do a live FOMC YouTube session today.

Let's work hard today as well.