A look at the day ahead in U.S. and global markets from Mike Dolan
The extent the OPEC move may have been a panicky response to signs of falling global demand was underlined by dour March factory readings from across the world., accounting for a third of the world's second-largest economy by value, lost significant momentum in March - casting further doubt on the strength of its recovery from restrictive COVID-19 policies.
Morgan Stanley's cross-asset strategists point out that U.S. stocks and bonds are starting to move in opposite directions again after the banking stress of the past month, with equities and debt yields moving in tandem as they both price recession risks from here rather than solely second-guessing Fed moves.still-tight U.S. labour market
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