Source: US Dept. of Treasury End of Day
• Virus fears ravaged bond yields as two-year and five-year Treasury notes fell by approximately 40 basis points ending the week at yields of 0.91% and 0.94%, respectively.
• Protectionist measures to contain the virus will undoubtedly drag on growth and the longer these measures remain necessary, the potential severity of hinderance increases.
• Markets are now calling for multiple cuts during 2020 as the Fed Funds futures market is forecasting a 100% chance of a reduction at the upcoming Fed meeting on March 18th.
