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In a market wrap up, analysts at TD Securities explained that  North American equity markets were a sea of red on Wednesday to continue a selloff from the European session, with the S&P 500 down 0.8% and TSX down 1.1%.  

Key Quotes:

“Market sentiment was weighed down by a plunge in base metal prices while further stabilization in TRY (+7.5%) was overlooked amid a widening rift between Erdogan and Trump.

Treasuries rallied by 4bp across the belly and long-end while Canadian rates outperforrmed.

The USD saw a mixed performance, with JPY (+0.4%) leading G10 FX amid the pullback in risk sentiment. EUR was unchanged to halt its downward momentum against the dollar while CAD (-0.6%) was the weakest performing G10 currency.

Data calendar quiets down on Thursday with the focus on Australian employment.”