Here is what you need to know on Tuesday, February 25:
Markets: S&P futures are on the rise after a massive sell-off in markets on Monday, with some indexes suffering the biggest daily drop in two years amid coronavirus fears. Investors are taking profits on US bonds, yet the ten-year Treasuries are still around the lows of 1.40%. Gold prices have dropped below $1,650 after hitting a seven-year high of $1,690. Oil prices are also attempting a recovery after the downfall on Monday.
See Gold may top $1,800 as coronavirus in Italy propels market panic – Interview with Kathleen Brooks
Currencies: Lower US bond yields sent the dollar down on Monday, with EUR/USD recovering to 1.0850, GBP/UDS recapturing 1.29, and USD/JPY dropping below 111. Most of the dollar’s losses are sustained into Tuesday.