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Risk-Off Sentiment Sweeps Through Asset Classes in Markets, Says Scotiabank

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Markets are ending the week in "turmoil," said Scotiabank.

Oil continues to creep higher with WTI and Brent up by around US$3 a barrel and inching back toward the Middle East wartime peak, noted the bank.

Bonds are selling off across maturities and markets, with gilts leading the way with double-digit increases in yields due to ongoing political "dysfunction" in the United Kingdom, stated Scotiabank.

Stocks are lower by more than 1% across all major yardsticks, it pointed out. The US dollar (USD) is broadly firmer. Crypto-land is broadly lower.

Canadian bond markets will shut early on Friday at 1 p.m. ET in consideration of Monday's national holiday, added the bank.

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