Global markets are experiencing a mixed course due to uncertainties regarding the pandemic and developments regarding the new stimulus package on the agenda in the US. Gold, which adds a new one to its records every day, renewed its historical levels as the falling dollar and bond yields increased the attractiveness of safe havens. Surpassing the $ 2,000 psychological limit, the ounce price of gold in the spot market improved its record at $ 2,030. The ounce of spot gold is balanced between 2,022-2,024 dollars after hitting a record high.
In Asia, markets in South Korea, India and Hong Kong are in positive territory, while China, Japan and Australia stock markets are slightly negative. After yesterday’s positive closing in US stock markets, US futures are on the rise as of this morning.
In Turkey, it will be closely monitored whether the loss of 5 percent in Borsa Istanbul, which saw a loss of 5 percent for a while, will continue after TL interest rates reached 1000 percent on the swap line yesterday. Yesterday, due to the TL shortage in London, there were sharp losses as investors who could not find TL sold their assets.
Turkey’s CDS rises above 550 points
Turkey’s five-year credit default swap (CDS) premium had fallen to 430 points after exceeding 650 basis points with the coronavirus outbreak, the highest level since the 2008 financial crisis.
The 5-year CDS, which generally followed an upward trend after the significant decline, was below 500 points last week. After sharp rises, CDS is hovering around 575-590 as of this morning.
New stimulus package in the US brought buying to stock markets
Investors are hoping that the US will announce more spending, with the White House pledging to work relentlessly to reach a deal by the end of this week. Comments by the San Francisco head of the US Federal Reserve that the US economy would need more support than initially thought also weighed on markets, sending long-term bond yields lower.
Oil declined after 4 days
Oil prices fell for the first time in four days after hitting a 5-month high, with rising coronavirus cases around the world and in the US shaking market confidence in the recovery in oil demand.
The nearest futures barrel price of Brent crude oil fell 0.4 percent to $ 44.27. US light crude oil was down 0.4 percent at $ 41.53.
Source: https://www.dunya.com/finans/haberler/2000-dolari-asan-altinda-yeni-rekor-haberi-476926
