BBH: markets remain 'unsettled' despite emergency measures
Global markets are still “unsettled” despite the emergency monetary and fiscal measures taken by governments to address economic damage from the coronavirus outbreak, said Brown Brothers Harriman. Asian stock markets weakened overnight, and futures contracts for the U.S. indices are pointing toward a lower open on Wall Street. The U.S. three-month yield has gone negative for the first time ever, BBH pointed out. “Commodity prices are mostly lower, with Brent oil up 6.3%, copper down 4.5%, and gold down 0.6%,” BBH said in an early-morning research note. However, the U.S. dollar had a firmer tone. As of 7:47 a.m. EDT, the futures for the Dow Jones Industrial were down by around 446 points. Spot gold was down by $7.20 to $1,478.90 an ounce.