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Home / Business / Stock dispute in the midst of the risk-off mood; Bond Retreat: Markets Wrap

Stock dispute in the midst of the risk-off mood; Bond Retreat: Markets Wrap



Tuesday saw a risk-off flavor for the markets as European equities struggled after a decline in Asia as investors worried about trade, growth and geopolitics. A bond sell-off deepened, the dollar rose higher and oil stabilized.

The Stoxx Europe 600 Index slipped a second day before packing the decline amidst mixed national benchmarks. Earlier stock benchmarks fell in South Korea and Australia and were barely changed in Japan. In China and Hong Kong, there were mixed stocks after data slowed down. US futures retreated, while the greenback was slightly higher as Treasury yields climbed above 3% again. The euro was stable, although the German growth data disappointed.

What began on Monday as a sell-off of European bonds – against the background of aggressive comments by an ECB official – picked up momentum through the US session and was carried to Asia. Rising yields, a stronger dollar and moving stocks are fast becoming a familiar and uncomfortable cocktail for investors. Now violence in the Middle East, trade between the US and China, uncertainty about the Italian government and global [19659-07] growth problems are helping to cement the prevailing sentiment.

Turkish President Recep Tayyip Erdogan talks about Bloomberg TV. [19659010] Source: Bloomberg)

Elsewhere, the Turkish lira reached a new low after President Recep Tayyip Erdogan said he wanted to tighten the economy and take more responsibility for monetary policy when he makes a choice next month wins.

Terminal users can read more in our live blog.

These are important events to see this week:

  • China plans to send Vice Premier Liu He to Washington for further trade talks.
  • European Union Chief Brexit negotiator Michel Barnier briefs EU affairs ministers on the state of talks with the UK
  • Britain's Prime Minister Theresa May meets with her Brexit cabinet on Tuesday to discuss plans for a United Nations Customs Union after the withdrawal to discuss.
  • U.S. Retail sales, industrial production are due this week.

These are the major moves in the markets:

Stocks

  • The Stoxx Europe 600 Index fell less than 0.05 percent from 8:28 am London time.
  • Futures on the S & P 500 Index fell 0.2 percent, the first decline in nearly two weeks.
  • The MSCI All-Country World Index fell 0.2 percent, the first decline in a week, and the largest decline in more than a week. [19659016] The British FTSE 100 Index rose 0.1 percent.
  • The German DAX Index fell 0.3 percent, the biggest drop in a week.
  • The MSCI Emerging Market Index fell 0.9 percent, its first decline in more than a week.
  • The MSCI Asia Pacific Index fell 0.7 percent, the largest decline in more than three weeks.

Currencies

  • The Bloomberg Dollar Spot Index gained 0.1 percent
  • The Euro rose less than 0.05 percent to $ 1.1932.
  • British pound fell less than 0.05 percent to $ 1.355
  • The Japanese yen fell 0.2 percent to $ 109.86 per dollar, the weakest in more than 14 weeks.

Bonds

  • The yield on 10-year Treasuries rose by one basis point to 3.02 percent, the highest of nearly three
  • Germany's 10-year yield climbed one basis point to 0.62 percent, the highest level for almost three weeks.
  • Britain's ten-year yield rose by one basis point to 1.482 percent, its highest level in nearly three weeks. [19659028] Commodities
    • West Texas Intermediate crude fell 0.1 percent to $ 70.87 a barrel.
    • Copper fell 0.3 percent to $ 3.08 a pound.
    • Gold fell 0.1 percent to $ 1,311.90 an ounce, the weakest in nearly two weeks. [19659019] – With the support of Andreea Papuc


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