Oil price battle will add to volatility

The rush to bonds continued on Friday, hitting new lows for Treasury yields, even as equities in the US saw a last-minute push and actually finished the week up a little. Phil Dobbie asks NAB’s Ray Attrill whether we’ll see a correction early today, particularly as a battle is emerging over oil supplies. Russia is refusing to cut supplies, leading to a likely price war with Saudi Arabia, pushing oil to multi-year lows. Meanwhile, COVID-19 continues to spread, with a large part of Northern Italy now in lockdown. So, will the markets be heartened by contingency plans from governments this week?

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