A rally in stocks cooled in Asia on Wednesday while Treasuries edged up as investors weighed the latest China figures as well as hawkish comments from Federal Reserve Chair Jerome Powell. Shares rose in Japan but fell in China and Hong Kong. MSCI Inc.’s Asia-Pacific stock index remained higher for a fourth day, the longest streak since February. US futures dipped after the S&P 500 added 2% in a risk rebound. Chinese data showed home prices fell for an eighth month as steps to counter a real-estate downturn failed to revive confidence amid Covid outbreaks. Treasuries pared a slide from Tuesday, leaving the US 10-year yield at 2.97%. Bonds were pressured overnight after Powell said the Fed “won’t hesitate” to tighten policy beyond neutral to curb inflation. A gauge of the dollar steadied. Crude oil was trading around $113 a barrel. Cryptocurrencies extended a period of relative calm, with Bitcoin hovering around $30,300. Investor sentiment improved a little on robust US retail sales and factory output data, as well as stronger-than-expected euro-area expansion. The worry is that tougher times lie ahead as monetary settings tighten, Russia continues the war in Ukraine and China grapples with Covid. Powell said that the US central bank will raise interest rates until there is “clear and convincing” evidence that inflation is in retreat. The remarks at a Wall Street Journal live event were some of his most hawkish so far. Chicago Fed President Charles Evans said he expects the Fed to slow the pace of rate increases to 25 basis-point increments later this year. He expects the Fed to have completed any 50 basis-point hikes before December. the Biden administration is poised to fully block Russia’s ability to pay US bondholders after a deadline expires next week, a move that could bring Moscow closer to the brink of default. US After Hours DLO +16.9%, AGYS +13.9%, TCS +10.3% higher on earnings; DOCS -16.7% falls on earnings; NCMI +17.9% jump as AMC discloses stake
Nikkei +0,74% Hang Seng -0,09% CSI -0,27% Shanghai -0,08% Shenzen +0,36%
Eur$ 1,0533 CNH 6,7628 CNY 6,7499 JPY 128,98 GBP 1,2473 CHF 0,9942 RUB 64,6013 TRY 15,9270 WTI$ 113,31 Gold 1,809,15 -2,5% BTC 29,730 -1% ETH 2,035 -0,8%
S&P -0,09% Nasdaq -0,23% EuroStoxx +0,27% FTSE +0,07% Dax +0,28% SMI +0,0%
Macro :
- US Set to Block Russian Debt Payments, Raising Odds of Default
- Commodities Underweights Penalize Active EU Portfolio Managers
Keep an eye on :
- ABN NA : ABN AMRO 1Q Profit Meets Estimates
- AF FP : CMA CGM to Take Air France-KLM Stake in Air Cargo Partnership
- ALO FP : Alstom Consortium Wins EU2.6B Tel Aviv Rail Systems Project
- ARAMCO AB : Saudi Aramco Is Said to Weigh IPO of Trading Unit Amid Boom
- BEFB BB : Befimmo 1Q Adjusted EPS EU0.62 Vs. EU0.69 Y/y
- BRBY LN : Burberry FY Adjusted Operating Profit Meets Estimates
- CTM SS : Catena Media 1Q Adjusted Ebitda EU25.6M Vs. EU25.0M Y/y
- CBK GY : UniCredit Unit Mulled Approach to Commerzbank in Early 2022: FT
- DAE SW : Daetwyler Sees FY Ebit Margin 13% to 16%
- DMP GY : Dermapharm 1Q Adjusted Ebitda EU75.1M Vs. EU63.7M Y/y
- EDF FP : EDF May Repair Some Nuclear Reactors by Year-End, Watchdog Says
- ELI BB : Elia Doesn’t Foresee Direct Impact of War in Ukraine on Its Ops
- ELIOR FP : Elior Group 2Q Revenue Beats Estimates
- ELIOR FP : Elior Is in Final Stages of Picking New CEO: Gault
- ENX FP : Euronext 1Q Ebitda Beats Estimates
- ENX FP : Euronext Upgrades 2022 Cost Guidance as Earnings Beat Estimates
- ENX FP : Euronext 1Q Results Good, Open Up Prospect for More M&A: Citi
- COL SM : Inmobiliaria Colonial 1Q Ebitda EU58M Vs. EU55M Y/y
- LGEN LN : L&G New £4b Investment With West Midlands Combined Authority
- LOGN SW : Logitech Jumps as UBS Upgrades to Buy, Says Selloff Overdone
- MB IM : ECB May Bar Del Vecchio Raising Mediobanca Stake: MF
- RKT LN : Abbott, Gerber, Reckitt Officials Called to May 25 House Hearing
- RNO FP : Renault CEO Seeks to Ease Nissan, Mitsubishi Fears Over EV Split
- SGRE SM : Siemens Energy Is Said to Plan Buyout Offer for Siemens Gamesa
- SIGN SW : SIG Raises ~EU204M in Share Placement Priced at CHF19.40/Shr
- GLE FP : SocGen’s Survivor CEO Oudea Is Stepping Down After 15-Year Reign
- TSLA US : Musk Has a Bigger Problem Than Bots: A Huge Twitter Debt Burden
- TRUEB SS : Truecaller Holder Atomico UK Partners Offers Up to 21m Shares
- TUI1 GY : TUI's Equity Raise Helps Clean Up Pandemic Financing Mess: React UniCredit’s Workaholic Boss Bounces Back After $54 Million Win
- UCG IM :