Overview - June 19, 2020
Daily Market Insight
Midday Market Observations
US equities are lower on this final trading session of the week, after reversing morning gains.  The three major indices are down 0.2% - 0.9% as of 2:00 p.m. ET, amid cross-currents tied to quadruple witching Friday and reports of rising COVID-19 cases in the US and Latam. Treasury yields are 1 to 2 basis points lower across the curve.  The curve’s shape remains consistent with yesterday’s close.

Crude oil is moderately lower, also erasing early gains. Demand levels appear to be stabilizing and the OPEC+ members are more strictly adhering to announced production cuts.    ICE Brent Crude is down $0.12 to $41.39 per barrel as of 12:40 p.m.ET. Gold is up over 1%, pushing above $1730 per ounce. The dollar is winding down the week higher against most major currencies today.  USDX is up fractionally to 97.55.                      

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