Bund jumps to new high as investors rush for safe assets

Asian upside vanished for equities and market has plunged to red once again to start off the week. China is closed for the week, due to Lunar New Year celebrations, otherwise, it could have been a messier Monday. Over the weekend data revealed, China's FX reserve shrank by $100 billion.

• Australia's ASX 200 is down marginally by -0.02%.
• Indian benchmark, nifty closed at 7387, down -1.36%.
• Nikkei closed in positive, 1.1% but future has trimmed the gains, now up just 0.6%.
• UK's FTSE 100 is trading at 5760, down -1.6%.
• German DAX is down -2.2%, trading at 9040 level.
• Franc's CAC40 is down -2.3%, Italy's FTSEMIB is down -2%, Spain's IBEX is down -2.8%,
• Pan European Blue chip index, EuroStxx50 is down -2.1%.
• S&P 500 future is pointing to loss of -1.3%, trading at 1857.

Naturally safe haven assets are in high demand.

• Yen is trading at 116.65, up 0.11% despite stronger Dollar.
• Gold is trading at 1175, up 0.1%.

German bund has reached to new highs, as Yields drop to record low for 2 year. 2 year bund yield is now at -0.51%. Similarly seven year yield has fallen to -0.135%.

10 year yield is still a bit far from zero level, trading at 0.25%.