As stocks hover back near record highs, entirely shrugging off virus fears, the rest of the world’s financial markets seem anything bit convinced this is a temporary shock – as The Fed’s Jim Bullard proclaimed this morning on CNBC.

Source: Bloomberg

The 30Y yield is back at record lows…

Source: Bloomberg

The yield curve has collapsed…

Source: Bloomberg

To its most inverted in four months…

Source: Bloomberg

And gold is exploding higher…in USD…

Source: Bloomberg

…to record highs in Euros…

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Source: Bloomberg

And record highs in Yen…

Source: Bloomberg

So, are US tech stocks right? Or the entirety of the rest of the world’s financial markets?