Not so coordinated after all
A lot of pretty words and hot air, but nothing else really. That just about sums up the G7 statement following the teleconference today.
S&P 500 futures briefly dipped into negative territory with USD/JPY also easing a little lower towards 107.60. Treasury yields are also nudging a little lower with 10-year yields now at 1.127% from around 1.16% before the statement was released.
In any case, I reckon a rate cut by the Bank of Canada and the Fed is still very much on.
However, don't expect much from the likes of Japan and Europe as they have exhausted a lot of their policy options and additional fiscal help - especially for the latter - doesn't appear to be coming whatsoever.
