There is a clear risk aversion in the market
We are observing a very interesting situation on the markets, in fact an anomaly. The return of the United States to the market after yesterday's holiday did not manage to lift market sentiment, even despite a significant drop in yields. Now the question arises, is the fall in bond yields related to the increase in risk? This is clearly indicated by the rebound of the VIX index.

The price of crude oil has dropped significantly. As you can see, the lack of an OPEC + agreement is negatively treated by the markets. Some market participants even expect that the entire agreement related to the reduction of production may even collapse due to the lack of agreement. Source: xStation5
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Gold moved significantly lower, despite higher TNOTE (decline in bond yields) and significant strengthening of the US dollar. Has the Covid risk returned to the market? It is worth noting that gold is returning below the upper limit of the recent consolidation zone . Source: xStation5

Today we are seeing the biggest correction on the S&P 500 since the last upward impulse from June 21, moreover, we are seeing significant increases in the VOLX index. Source: xStation5