Oil was slammed by the prospect of further disruption to the US economy






Oil was slammed by the prospect of further disruption to the US economy and with Saudi Arabia apparently determined to pursue a price war with Russia and American producers to regain market share. Prices are also suffering as demand collapses and the price war between Saudi Arabia and Russia drags on. Brent crude futures, the global oil benchmark, were down 8.6%, last trading at $22.79 per barrel. US oil is trading at $20.27 per barrel, down 5.8%. It fell as low at $19.92 a barrel this morning. (CNN)

Long-maturity Treasury yields fell on Monday as fears mount that worldwide shutdowns resulting from the coronavirus pandemic could continue for months. The yield on the benchmark 10-year Treasury note dropped 6 basis points to around 0.66% while the yield on the 30-year Treasury bond was down at 1.24%. President Donald Trump on Sunday extended nationwide social distancing guidelines until April 30, reversing previous claims that the U.S. open for business by Easter. (CNBC)

Source: Danareksa Sekuritas Debt Research
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