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    Market wrap: concerns are mounting - Westpac Ross J Burland

    Analysts at Westpac offered a Market recap of close of business US trade.Key Quotes:"Global market sentiment: The risk averse themes continued, pushing equities, commodities and credit instruments lower. Concerns are mounting that record low interest rates globally (the German 10yr touched 0.009% on Friday) are unable to revive economic growth.  Interest rates: The US 10yr treasury yield fell from 1.68% to 1.63% - the lowest level since February – while the 2yr fell from 0.77% to 0.73%. Market pricing for near-term Fed hikes indicates the 15 Junemeeting remains a zero chance, while September is around 35%.Currencies:  The US dollar index (DXY) benefitted from the risk aversion, gaining around 0.7%. EUR fell from 1.1320 to 1.1246. USD/JPY ranged between 106.60 and 107.20, the safe-haven yen outperforming on the day. AUD fell from 0.7420 to 0.7370. NZD fell from 0.7115 to 0.7041. AUD/NZD ranged between 1.0420 and 1.0480."


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