Pakistan: Secondary market yields down up-to 72bps. 3Y PIB yield down by 36bps to 18.23% followed by 72bps decline in 5Y PIB to 15.16% and 38bps decline in 10Y PIB to 15.24%.

Oil continues to be weak. WTI trading below $69 and Brent below $75. Russian and Saudi officials met to discuss oil market stability.

US Stocks regains as European market recouped  losses of day before yesterday. Dow Jones closed up 372 points at 32,247.

As anticipated, the ECB increased interest rates on Thursday by 50 basis points, bringing borrowing costs to their highest level since late 2008.

The whole WTI futures curve is now below the bottom range of $67-$72 a barrel given by the White House to buy crude for the SPR.