Oil Price Plunge Spills Over into Global Markets

Falling oil prices have eased some of the pressure on core bonds, causing US rates to fall between 5.9 and 7 bps yesterday.

The European swap yield curve also bull steepened with net daily changes ranging from -2.2 to -5.9 bps.

Currencies remained largely unchanged, but lower energy prices did support risk sentiment somewhat.

The tech sector saw a sell-off ease, leading the Nasdaq to a 0.66% gain.

Nvidia's after-market earnings release today will be closely watched as a gauge for the broader sector.