A selloff in Asian shares deepened, as investors fretted over higher Treasury yields and escalating tensions in the Middle East. Yields on 10-year US government bonds gained for a fourth day, rising three basis points in Asia, and led an advance across the region. Federal Reserve Bank of New York President John Williams said interest rates will have to stay at restrictive levels “for some time” to bring inflation back to the central bank’s target. Stock benchmarks from Tokyo to Hong Kong, Sydney and mainland China all dropped well over 1%. Oil slid after an earlier rally with the US suspending some sanctions on Venezuelan output. Safe-haven demand boosted gold, delivering a gain of more than 4% in the past five days. Oil’s rally Wednesday came as Iran intensified its rhetoric against Israel after an explosion at a Gaza hospital that complicated diplomatic efforts to rein in the Middle East conflict. United Airlines Holdings Inc. tumbled almost 10% after warning the Israel-Hamas war and higher jet fuel costs would weigh on earnings. UK Prime Minister Rishi Sunak is set to visit Israel on Thursday. The dollar was steady, after gaining over the last two sessions. Elsewhere in currencies, the yen slightly strengthened as Japan’s exports rose more than expected in September. Traders are preparing for turbulent trading in the currency amid growing concerns that Japanese authorities will intervene. A former Bank of Japan board member said the central bank may scrap negative interest rates by the end of this year. Contracts for US equities edged lower in Asia after the S&P 500 slumped 1.3% on Wednesday. Morgan Stanley sank the most since 2020 as profit fell on an investment-bank slowdown while Netflix rallied post-market after strong earnings. Treasury yields remain at multidecade highs with Fed Governor Christopher Waller noting policymakers can wait and gather more data before deciding if the economy needs further monetary restraint. Still, elevated yields are attracting buyers, with a 20-year auction seeing its yield lower than indicated pre-auction trading, helping cap a rise in long-dated yields. Fed Chair Jerome Powell is set to speak at the Economic Club of New York on Thursday.
In Asia, investors will be monitoring distressed Chinese builder Country Garden Holdings Co., which is set for a first-ever default as a grace period ends for dollar-bond interest. US After Hours NFLX +12.2%, LVS +5.3%, SAP +4.2% higher on earnings; EFX -6.9%, LRCX -5.3%, DFS -2.6%, TSLA -0.8% lower on earnings; COST -0.5% CEO to step down.
Nikkei -1,84% Hang Seng -2,14% CSI -1,86% Shanghai -1,50% Shenzen -1,27%
Eur$ CNH CNY JPY GBP CHF RUB TRY WTI$ Gold BTC ETH
S&P -0,23% Nasdaq -0,22% EuroStoxx _0,68% FTSE -0,44% Dax -0,61% SMI -0,85%
Macro :
- Beige Book Suggests Stagnating Economy, Again
- BofA Says Credit, Stocks Starting to Shake Off Treasury Turmoil
- OpenAI Says New Tool Will Detect Images Made by Dall-E
Keep an eye on :
Keep an eye on :
- ABVXFP : Abivax Boosts Shares in Offering as Bookbuilding Starts
- AA US : Alcoa 3Q Adjusted Ebitda Beats Estimates
- ARJOB SS : Arjo 3Q Adjusted Ebitda Beats Estimates
- ATEA NO : Atea 3Q Ebitda Misses Estimates
- BSLN SW : Basilea Adds Antifungal Compound to Clinical Pipeline
- CO FP : Rallye Acknowledges Terms of Casino’s Financial Restructuring
- CLN SW : Clariant ‘Firmly Rejects’ Shell’s Claims in 2020 Antitrust Case
- COTN SW : Comet FY Sales Forecast Misses Estimates
- DBHN GY : Deutsche Bahn to Announce Arriva Sale on Thursday: Reuters
- DB1 GY : Deutsche Boerse Sees FY Ebitda About EU2.9B, Est. EU2.86B
- DB1 GY : Deutsche Boerse Sees FY Ebitda About EU2.9B, Est. EU2.86B
- DNB NO : DNB Bank 3Q Net Interest Income Misses Estimates
- DOCM SW : DocMorris AG Narrows FY Adjusted Ebitda Loss Forecast
- EDEN FP : Edenred SE 3Q Like-for-Like Revenue Beats Estimates
- ELISA FH : Elisa 3Q Comparable Ebitda Misses Estimates
- ENSU NO : Ensurge Micropower Offering Prices at NOK0.10/Share
- FINGB SS : Fingerprint Cards 3Q Oper Loss SEK63.8M Vs. Loss SEK59.8M Y/y
- GEC FP : Gecina 9M Like-for-Like Rental +6.1%
- GET FP : Getlink 3Q Revenue Misses Estimates
- EQT SS : EQT Holders Offer 19.4m Shares at SEK205/Share
- F US : Ford Says It Faces $1 Billion in Fines Under Stricter Fuel Rules
- GAM SW : GAM Holding Assets Under Management CHF64.9B
- IFCN SW : Inficon Boosts FY Sales Forecast, Beats Estimates
- ACAQ US : Bill Ackman’s SPARC Gets a Fresh Look Two Years Later: ECM Watch
- NESN SW : Nestle Could Cut 542 Jobs at Infant Formula Plants in Ireland
- NESN SW : Nestle’s Sales Growth Slows As Volumes Drops Again
- NOKIA FH : Nokia 3Q Net Sales Misses Estimates
- NOVOB DC : Obesity Drug Frenzy Is a Bubble, Kepler Says After Novo’s Surge
- OTMP LN : *COSTAR BIDS FOR ONTHEMARKET; BOARD APPROVAL EXPECTED: SKY
- RI FP : Pernod Ricard 1Q Americas Organic Sales Misses Estimates
- PG US : P&G Said to Weigh $1 Billion Sale of VS Sassoon’s China Unit
- PFE US : Pfizer to Charge $1390 Per Course of Paxlovid Covid Antiviral
- RAL FP : Rallye Acknowledges Terms of Casino’s Financial Restructuring
- RNO FP : Renault 3Q Revenue Misses Estimates
- REP SM : Repsol to Defend Its Rights in Venture Global Challenge: CEO
- ROG SW : Roche 3Q Sales Meets Estimates
- ROG SW : Roche Sales Drop as New Drugs Don’t Make Up for Covid Slump
- SAF FP : Safran CEO Calls for Tougher Regulation After Fake Parts Scandal
- SAP GY : SAP 3Q Non-IFRS Cloud Rev. Misses Ests; FY Outlook Confirmed
- DIM FP : Sartorius Stedim Biotech 9M Underlying Ebitda Margin 28.7%
- SIP BB : Sipef 9M Palm Oil Output 292,880 Metric Tons Vs. 303,110 Y/y
- SLIGR NA : Sligro 3Q Sales EU705M Vs. EU652M Y/y
- STLAM IM : Stellantis Aims to Boost Van, Pickup Sales to 2M Units From 2024
- TELIA SS : Telia 3Q Adjusted Ebitda Beats Estimates