Stress eases, currency markets mean-revert
Financial markets are stabilising this morning as credit concerns and trade tensions begin to subside. After a brief period of whiplash on Friday, the dollar is inching higher against a basket of its most-traded rivals, benchmark ten-year Treasury yields are holding just above the 4 percent threshold, and US equity futures are pointing to a stronger open. Most major pairs are back to Thursday levels. Measures of implied volatility are slipping from levels hit last week when losses relating to an auto parts supplier and a subprime auto lender emerged, followed shortly thereafter by writedowns at regional lenders including Zion’s...