we start on the markets because a day after wall street closed at new record highs the jitters have returned. but i don t seem to have a camera! what i can do is. you know what? you can look at my chair. we are coming back. hello, nice to see you again. shares have fallen sharply, oil had its steepest one day fall since last summer, and those bond yields the effective interest rates on government debt have soared again. the yield on the 10 year us treasury bond hit almost 1.75% its highest since the very start of the pandemic back injanuary 2020. what s that telling us? that investors are scared inflation is about to take off and interest rates will have to rise soon. that s despite reassurances to the contrary from the head of the federal reserve. we d had about a 45 basis point jump in that treasury yield, and during that time, that is when we saw the nasdaq sell off more than 10%. so the question here is, what does it look like on the chart now for the treasury yie
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Indian benchmark indices opened higher. HUL, Nestle India, Godrej Consumer Products surged, while Lupin declined. Nifty FMCG, Marico, Dabur, Financial Services, PSU Bank, Consumer Durables, Oil & Gas gained. Global markets rise, oil prices up, rupee strengthens.
Nifty 50 closed lower due to state-run banks, while S&P BSE Sensex closed slightly higher. Analysts suggest selling if Nifty breaches 22348 or rises to 22570-22620. US markets rose on Fed rate cut hopes.
USDJPY breaks higher as inflation came at 1.8% down from 2.5% expectations, and 2.6% prev reading. Thats very interesting reading. Who would think of this data considering how expensive are commodities for them, including oil, with recent drop of JPY. But it puts less pressure on BoJ to hike. Maybe more time is needed for inflation to show up and that's when they will hike, in coming months.