The market initially responded optimistically to President Trump’s Friday remarks as hopes for fiscal stimulus continue to grow, but markets have started the week in an aggressive risk-off tone, economists at TD Securities inform.
Key quotes
“As the spread and response to the virus ex-China is now firmly the driver in base metals, the waves of stimulus can help the metals find a floor, but only if the measures are able to instill a sense of confidence in the market, which is becoming tougher as countries grind to a halt.”