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By Mark DOWDING, CIO at BlueBay Asset Management
Investors settle in for a protracted fight against the virus and look to the ECB to increase its support measures in line with the US. Developments in energy markets and EU politics have provided the focus for market attention over the past week. From a historical point of view, this will be remembered as the week when oil prices traded in negative territory with West Texas crude dropping as low as -USD40 per barrel into the contract expiry.
Oil shocks exceed expectations
We had flagged the risk of a negative oil price in our 3 April commentary as it had become apparent that any measures to curtail supply have been insufficient to correct for the drop in...
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