Stocks extended a rebound and major currencies rallied versus the dollar amid the UK’s efforts to foster greater stability in its volatile bond market. A gauge of Asian equities advanced Tuesday, led by technology stocks in Hong Kong. US equity futures jumped as much as 2% after the S&P 500 closed above a key technical support level on Monday.
A Bloomberg gauge of the greenback declined for a second day as the New Zealand dollar surged on rate-hike bets and the pound fluctuated following a Financial Times report that the Bank of England was likely to delay the sale of government bonds. The yen paused in its run toward the closely watched 150 per dollar level, which has investors on high alert for possible intervention. Japanese Finance Minister Shunichi Suzuki said he was watching market moves with a sense of urgency. Chinese junk dollar bonds dropped to a record low, as a property crisis sparked by a crackdown on excessive borrowing and a slide in home sales show few signs of turning around without more policy steps. China’s decision to delay the publication of key economic data including third-quarter gross domestic product added a touch of caution to trading in the region. The Communist Party congress has provided few signs of a let up in China’s Covid-zero and property-market policies that are weighing on the economy. Treasury yields declined during Asian trading, as did rates on Australia’s benchmark bonds. Government bond yields in New Zealand bucked the trend, rising with the country’s currency after inflation data remained stronger than expected. The figures underscored risks to markets from persistently high consumer prices even in countries at the vanguard in tightening monetary policy. oil rose as investors weighed signs of a tight market against concerns over a global economic slowdown. Gold edged higher and Bitcoin continued to trade below $20,000. US After Hours FUBO +8.3% on upbeat Q3 guidance; MFA +10.9% after reporting certain financial measures; AR +4.6% on news it will join S&P MidCap 400, BBWI +3.6% on MOXY launch news.
Nikkei +1.42% Hang Seng +1.08% CSI -0.30% Shanghai -0.28% Shenzen +0.26%
Eur$ 0.9850 CNH 7.2009 CNY 7.1926 JPY 148.94 GBP 1.1342 CHF 0.9941 RUB 62.2180 TRY 18.5847 WTI$ 86.18 +0.84% Gold 1,654 +0.22% BTC 19,600 +0.32% ETH 1,335 +0.41%
S&P +1.65% Nasdaq +1.82% EuroStoxx +1.19% FTSE +0.86% Dax +1.08% SMI +0.53%
Macro :
- Mobius Warns US Interest Rates Will Hit 9% If Inflation Persists
- CFTC Says Receivership Concluded in $1.3B Ponzi Scheme Case
- Scholz Overrules Greens in Surprise Move to Extend Nuclear Power
- Goldman Says Sell S&P 500 Calls to Fund Bullish China View
- JPMorgan’s Kolanovic Trims Risk as He Turns More Wary on Economy
Keep an eye on :
- AIR FP : Airbus Wins First Third-Party Mission for Giant Beluga Cargo Jet
- AIR FP : Airbus Aims Smallest A220 Business-Jet at US After Russia Loss
- AKRBP NO : Aker BP Prelim 3Q Average Production 411,700 BOE/D
- AV/ LN : Aviva Loses Long-Short Senior Strategist to Asset Manager Silex
- BMPS IM : Monte Paschi Turns to Market for Capital Rescue: ECM Watch
- CSGN SW : Credit Suisse Is Said to Begin Sale of US Asset Management Arm
- DARK LN : Short Seller Favorites Darktrace, Just Eat Lead Tech Stock Rally
- DTE GY : T-Mobile Amends Credit Agreement, Provides for $7.5b Revolver
- EDP PL : Portugal Regulator Proposes 2.8% Increase for Electricity Tariff
- EBK GY : Germany to Extend Life of Nuclear Plants to Ease Energy Crisis
- ENEL IM : Enel in Talks With Banks on New €16b Loan: Messaggero
- ENGI FP : Repsol, Engie Submit Offers to Buy Asterion Energies: Reuters
- EQT SS : EQT Completes Baring PE Asia Deal in Sector’s Biggest Buyout (1)
- ERF FP : Eurofins Scientific 3Q Revenue EU1.62B Vs. EU1.63B Y/y
- FCAP LN : FinnCap Got Indicative Non-Binding Proposals From Panmure Gordon
- GALP PL : Galp Says Still Has No Assessment on Nigeria LNG Supply Impact
- GSK LN : GSK Expands Pact With Tempus on Patients Enrollment in R&D Trial
- IBE SM : *IBERDROLA STARTS SALE OF 49% IN UK OFFSHORE FARM: EL ECONOMISTA
- LOOK LN : Lookers Launches Share Buyback Program of up to £15M
- LHA GY : Lufthansa Doubles 2022 Earnings Forecast After Surge in Bookings
- RI FP : Pernod Ricard to Buy a Majority Stake in Código 1530 Tequila
- PFV GY : Pfeiffer Vacuum FY Sales Forecast Beats Estimates
- PUB FP : Publicis Sales Beats Estimates, With Digital Leading Growth
- REP SM : Repsol, Engie Submit Offers to Buy Asterion Energies: Reuters
- RIO LN : Rio Tinto Sees 2022 Pilbara Ore Shipments at Low End of Range
- ROG SW : Roche Sales Drop as Demand Abates for Covid Tests and Medicines
- RWE GY : Germany to Extend Life of Nuclear Plants to Ease Energy Crisis
- RWE GY : RWE to Immediately Prepare German Nuclear Plant for Extension
- SREN SW : Swiss Re Estimates ~$1.3B Hurricane Ian Claims, Sees 3Q Loss (1)
- THG LN : THG Holder SoftBank to Sell Entire 80.6m Stake in THG
- UN01 GY : Germany to Extend Life of Nuclear Plants to Ease Energy Crisis