BLOOMBERG Bond yields tumbled around the world and equities slumped as a raft of news on China, Italy and US banks fanned worries about the financial system and global economy. Across markets, there was a broad move into safety. The yield on the 10-year Treasury dropped 10 basis points and the equivalent rates in Germany fell 13 basis points. A ...
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Thai stocks rebound in sign locals see end of political gridlock
BLOOMBERG Thailand’s domestic investors are snapping up the nation’s beaten down equities, betting that the months long political standoff will be resolved soon. The benchmark stock index has rallied more than 4% from a June 28 trough, and may extend if a government takes office soon, according to analysts. While the SET gauge is still Asia’s worst-performing equity market this ...
Read More »Treasuries slide as S&P 500 futures signal rebound
BLOOMBERG A selloff in government bonds accelerated Monday as the threat of further rate hikes unsettled traders. The yield on 30-year German bonds rose nine basis points to 2.72%, the highest since early 2014. Similar-maturity Treasury yields jumped seven basis points. US equity futures rose modestly, signalling a rebound from Friday’s retreat. Federal Reserve Governor Michelle Bowman said over the ...
Read More »Vietnam’s stock market recovering fast, strongly
HO CHI MINH CITY / WAM Vietnam’s stock market is witnessing the fastest and strongest recovery since the beginning of this year, as the VN-Index has surpassed the threshold of 1,200 points, state news agency (VNA) reported. Most stocks have risen significantly compared to the end of 2022, and the list of enterprises with a capitalisation over $10 billion expanded. ...
Read More »Futures rise, yields fluctuate over Fed rate hike speculation
BLOOMBERG Stock futures rose and bond yields wavered after data showing labour-market softening reinforced speculation the Federal Reserve will have room to skip an interest-rate hike in September. After swinging between gains and losses, S&P 500 contracts pushed higher. Treasury two-year yields, which are more sensitive to imminent Fed moves, were little changed alongside the dollar. US employment increased at ...
Read More »LSE shares fall on signs of faltering growth in first half
BLOOMBERG London Stock Exchange (LSE) Group Plc shares had their worst fall of the year after the firm reported slowing growth in subscription revenue, even as it said income will rise at the high end of its guidance during 2023. The bourse reported adjusted operating profit of £1.4 billion ($1.8 billion) for the first half of the year, compared with ...
Read More »Treasury rout unnerves traders as stocks retreat
BLOOMBERG Treasuries deepened a selloff, driving the 10-year yield to a nine-month high, and equities slumped as investors grew increasingly worried about rising borrowing costs. European stocks fell 0.8% and US equity futures contracts signaled that the S&P 500 will extend on August 2 losses. The dollar strengthened for a fourth day. Bill Ackman, founder and chief executive officer of ...
Read More »China’s stock rally holds promise as bullish indicators emerge
BLOOMBERG Chinese equities have staged a sharp rebound as Beijing makes the right noises on the policy front, and some key market indicators are pointing to more gains. Bullish technical formations, an improving earnings outlook and rising inflows augur well for stocks after key gauges in Hong Kong and the mainland capped their biggest monthly rally since January. While equities ...
Read More »Stocks pull back from July rally on weak earnings
BLOOMBERG The stocks rally that catapulted the S&P 500 to a 16-month high lost momentum after a flurry of companies reported disappointing earnings. BMW AG dropped more than 6% after warning about higher costs for developing electric cars, while logistics giant DHL Group gave a profit guidance that missed analyst estimates. ZoomInfo Technologies, which makes business software, plunged 20% in ...
Read More »Goldman, Morgan Stanley see BOJ tweak boosting Japan stocks
BLOOMBERG Strategists at Morgan Stanley and Goldman Sachs Group Inc see the Bank of Japan’s tweak of yield-curve control as providing clarity that will support further gains in the nation’s equity market. Opportunities are “now even clearer,” Morgan Stanley strategists including Daniel Blake wrote after the the BOJ adjustment to allow the yield on 10-year bonds to trade as high ...
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