Steps in with unscheduled bond buying for a second time this week. Asian stocks and european futures selloff as hot u. S. Jobs data pressure on the fed inflation fight. The bank of england decides with at least another quarterpoint hike expected today. Speculation rose it could hint at a faster pace of bond sales. Earnings heat up with amazon and apple taking center stage. But first, socgen posts betterthanexpected secondquarter net income, with ing results hitting the tape now. Good morning, welcome to thursday. The misery continues in asia, after a miserable end to the session on wall street. The s p 500, it was its worst day since april. The nasdaq was down over 2 . August is typically the most volatile month. The fear gauge, the vix is at its highest since may. There are jitters about how much the bank of japan will let yields rise under its yield curve control regime. It has made its second intervention in a week. Not to mention tepid earnings from qualcomm. The 10year yield rose
I am dani burger along sign jeb bush alongside jennifer zabasajja. Fresh data shows the Services Sector in china was as low as rates this year is in august. Bloomberg economics says china may never overtake the u. S. As the worlds biggest economy. Lying low. Philip lowe the governor of the rba these Interest Rates unchanged in his final meeting to warns that some further tightening your choir. May be required. Country garden avoids a default with lastminute payments on dollar bonds. Happy tuesday. It is great to be back on the show with you, jen. Jennifer it is great and thank you for having me. Dani you are a pro. You had the rains yesterday and everything was great but it should be a morning of relief. We have the u. S. Dollar bond payment from Country Garden and goldman seeing a lower chance of recession. Someone should tell the markets that though. Jennifer we should see whether or not the u. S. Will reflect that when they are back from Labor Day Holiday. Lets look at s p futures a
At the same time, debt to income at record highs, largely on account of runaway property markets, how much households are leveraged. Will bekeeps up, there a problem when it comes to consumption and retail sales. For those reasons, the rba is expected to sit on its hands. Options at the moment, just wait and see future data. The composite index coming in way better than anticipated. Reflecting what happens to the manufacturing data in official and nonofficial iep. Looking forward to trade numbers out of china, and fx reserves. Its about the yen, gold, and markets generally. What we see with north korean tensions, what do we have . Last time we checked, gold was maintaining gains. Investors assessed these risks. We have havens picking up on momentum. Gold up about 2 10 of a percent, per ounce level. The dollar yen trading at 109. 54. The yen gaining ground. That is putting pressure on stocks in tokyo, leading the drop in asia along with shares you look at the hang seng. Trim somewhat, b
Risk assets beaten down through Asia and Europe sessions, pare losses in US. JOLTS Job Openings fall to 3-yr low; more evidence US jobs market is cooling. US rates extend slide on weak data
Gold prices inched lower on Wednesday
as the dollar firmed, while investors focussed on the U.S.
non-farm payrolls report due later in the week for more cues on
the Federal Reserve s rate-cut plans. . -June 04, 2024 at 09:42 pm EDT
- MarketScreener