Covid-19 to dominate; markets gear up for rate cuts

Mon, 02 Mar 2020

Markets continue to be roiled by the global spread of covid-19 and most are now bracing for further rate cuts.“Equity markets continued their aggressive sell off, though buyers emerged into the US close on hopes of a Fed lifeboat. The market is now pricing in a 25 basis-point cut from the FOMC in March and is fully priced for an RBA cut this week,” said ANZ chief economist Sharon Zollner.The S&P 500 stock index fell 0.8 percent on Friday, taking its loss last week to almost 12 percent. ASX futures are down 40 points at 6,334 and the w...

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