FXStreet (Guatemala) - Analysts at ANZ explained that while some calm returned to markets overnight, it has not been a great start to the year for markets, with risk aversion evident as low oil prices and concerns over the Chinese outlook have clobbered global equities. Key Quotes: "US and core European equity indices are down 5% to 9% since the start of the year, with Chinese equity indices down 18%-20% over this period despite yesterday’s late session rally. Measures of market volatility have lifted appreciably over January for equities and crude oil. As a result, safe haven flows have bolstered Government bond markets, curves have generally flattened and commodity currencies have generally fared poorly against the USD, euro and yen. US Treasury 10 year yields are hovering around late October levels – prior to the Fed signalling pending lift-off – while odds of further Fed hikes have receded as markets factor in a milder path of Fed tightening. Central bank comments from the US and UK overnight emphasised that low oil prices will weigh on (already low) rates of consumer price inflation, but noted that they also represented a net positive to economic activity and are not the headwind to growth that some have made them out to be." For more information, read our latest forex news.