Tag Archives: U.K.

Overview: Global equities are bleeding lower. Several large markets in the Asia Pacific region, including Hong Kong, Taiwan, and India are off more than 2%. Japan and Australian bourses fell by more than 1.5%. Europe's Stoxx 600 is off more than 2% and giving back the gains recorded in the past two sessions plus some. US futures are extending yesterday's loses. The sharp sell-off of equities has given the sovereign bond market a strong bid. The 10-year US Treasury...

Overview: The large bourses in Asia Pacific except Hong Kong eased. Japan and China’s mainland markets are closed for the holiday. Europe’s Stoxx 600 is up about 0.6%. It gapped lower yesterday and has not entered the gap today. US futures are a little softer. The 10-year Treasury nicked the 3%-mark yesterday and is just below there now. European benchmark yields are mostly 1-3 bp higher, but the UK Gilt yield has jumped eight basis points, and Australia’s surged 13...

Overview: The record-long yen slide has stalled just shy of JPY129.50, even though the Bank of Japan defended its Yield-Curve Control cap on the 10-year bond and will continue to do so for the next four sessions. The greenback fell to almost JPY128 before steadying. China again defied expectations for lower rates (loan prime rate), the yuan’s sell-off accelerated and slide to its lowest level since last October. Chinese and Hong Kong shares fell, but most of the...

Overview: Benchmark 10-year bonds yields in the US and Europe are at new highs for the year.  The US yield is approaching 2.90%, while European rates are mostly 5-8 bp higher.  The 10-year UK Gilt yield is up nine basis points to push near 1.98%. The higher yields are seeing the yen’s losing streak extend, and the greenback has jumped 1% to around JPY128.45  The dollar is trading lower against the other major currencies but the Swiss franc. The dollar-bloc currencies...

Overview: What appears to be a powerful short-covering rally in the US debt market has helped steady equities and weighed on the dollar.  Singapore and South Korea joined New Zealand and Canada in tightening monetary policy.  Attention turns to the ECB now on the eve of a long-holiday weekend for many members.  The tech-sector led the US equity recovery yesterday, snapping a three-day decline.  Most of the major markets in Asia Pacific advanced but Taiwan and India. ...

Overview: It is a new day, but with the continued rise in interest rates and weaker equities, it feels like yesterday. Only China and Hong Kong among the major markets in Asia Pacific resisted the pull lower.  Europe’s Stoxx 600 is off by more than 0.5% led by health care and real estate. It is the fourth loss in five sessions and brings the benchmark to its lowest level since March 18. US futures are flattish. Yesterday, the NASDAQ fell by more than 2% for the third...

Overview: The Reserve Bank of Australia hinted that it was getting closer to a rate hike.  The Australian dollar was bid to its best level since the middle of last year.  Australian stocks advanced in a mixed regional session while China and Hong Kong markets were closed for the local holiday.  BOJ Kuroda called the yen’s recent moves “rapid.”  The yen is sidelined today as the dollar weakens against other major currencies, led by the Antipodeans.  In addition to the...

Overview: Interest rates continue to rise, but equities are looking through it today and the dollar is drawing less succor. Asia Pacific equities were mostly higher. With half of Shanghai in lockdown, Chinese equities were unable to join the regional advance. Europe’s Stoxx 600, led by energy and consumer discretionary sectors, is rising for the third consecutive sessions. US futures have a small upward bias. The US 10-year yield is up a few basis points to 2.50%,...

Overview: Ukraine’s Mariupol refuses to surrender as the war is turning more brutal according to reports. Iran-backed rebels in Yemen struck half of a dozen sites in Saudi Arabia, driving oil prices higher. China’s prime lending rates were unchanged. The MSCI Asia Pacific Index, which rallied more than 4% last week, traded heavily today though China and Taiwan’s markets managed to post small gains. Tokyo was closed for the spring equinox. Europe’s Stoxx 600 is steady...

Swiss Franc The Euro has fallen by 0.05% to 1.0424 EUR/CHF and USD/CHF, January 17(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Russia is thought to be behind the cyber-attack on Ukraine at the end of last week, but a military attack over the weekend may be underpinning risk appetites today. The dollar’s pre-weekend gains are being pared slightly. Led by the Canadian dollar and Norwegian krone, the greenback...