Stocks climbed in Asia following a rebound in the final hour of New York trading as investors shifted positions ahead of a flurry of central bank decisions this week led by the Federal Reserve. MSCI Inc.’s Asia-Pacific equity index advanced for the first time in six days, paced by tech stocks in Hong Kong, where the benchmark Hang Seng Index rose more than 1%. Japan’s Nikkei 225 earlier jumped by around the same amount after traders returned from a holiday. S&P 500 and Nasdaq 100 futures edged higher. Treasury 10-year yields hovered near 3.5% while yields on the more policy-sensitive two-year rate hit the highest since 2007 and are poised to crack above 4%, amid fears that an overtightening of monetary settings raises the odds of a hard landing. Investors are on tenterhooks as they await policy decisions that are expected to bring hefty rate hikes from the US, UK and Sweden. Decisions are also due in Japan, Switzerland, Indonesia, Norway and the Philippines, among others. The dollar was little changed below recent highs, while the yen was held comfortably below the key 145 level. The yuan was on the weak side of 7 versus the dollar. Traders are betting the Fed will hike by 75 basis points Wednesday, signal rates are heading above 4% and will then pause. The long hold strategy is rooted in the idea the central bank would avoid the disastrous stop-go policy of the 1970s that allowed inflation to get out of hand. In China, banks kept their main lending rates unchanged after the central bank paused its monetary easing and defended a weakening yuan. Bitcoin struggled to return to $20,000 level. Oil slipped below $86 per barrel and gold was steady. US After Hours Summary: F -4.8% on higher-than-expected supplier costs; CGNX +6.2% on raised guidance.
Nikkei +0,43% Hang Seng +1,05% CSI +0,14% Shanghai +0,20% Shenzen +0,92%
Eur$ 1,0020 CNH 7,0133 CNY 7,0095 JPY 143,32 GBP 1,1426 CHF 0,9653 RUB 63,1181 TRY 18,2975 WTI$ 85,76 Gold 1673,60 BTC 19,315 -1% ETH 13,55 -0,10%
S&P +0,27% Nasdaq +0,31% EuroStoxx +0,43% FTSE +0,66% Dax +0,59% SMI +0,10%
Macro :
- Ecuador Reaches Deal With China to Restructure Debt -- WSJ
- Salvini Wants $30 Billion for Italy Inc. to Survive Energy Woes
- Goldman Says Stay Defensive on Road Toward Peak Hawkishness
Keep an eye on :
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- BGN IM : Banca Generali Settles Pending Claims With Italy Revenue Agency
- EKTAB SS : Elekta, Karkinos Healthcare Expand Cancer Care in India
- EVT GY : Evotec Biologics Awarded Contract From US Department of Defense
- FDJ FP : FDJ in Exclusive Talks to Buy Zeturf Group
- HEN3 GY : Henkel Boosts FY Organic Revenue Forecast
- IIA AV : Immofinanz Sees EU25M/Yr Gross Rental Income from CPIPG Deal
- LNZ AV : Lenzing Suspends Guidance on ‘Drastic Deterioration’ of Market
- MAJ NA : Majorel Ceased Merger Talks With Sitel Due to Macro Environment
- NOVOB DC : Novo, Lilly May Fuel US Obesity Sales Beyond $12 Billion in 2028
- OMV AV : Austria Plans to Release More Diesel From National Reserves: APA
- ROG SW : Roche Granted FDA Clearance for Cobas Pure Integrated Solutions
- RWE GY : RWE, Uniper Near Long-Term Deals to Buy LNG From Qatar: Reuters
- SIX2 GY : Sixt Aims to Make 70-90% of European Fleet Electric by 2030: HB
- STLA IM : Some Stellantis Workers Strike in France Over Wages: Le Figaro
- SYDB DC : Sydbank Raises FY Profit Forecast on Higher Core Income
- TALK LN : TalkTalk pushes UK government to promote superfast broadband - FT
- TEL NO : Telenor Sees Mid-Single Digit Nordic Ebitda Growth 2023-2025
- UCB BB : EU Regulator Accepts New UCB Filings on Bimekizumab for Review
- UCG IM : UniCredit Wants to Expand in Germany, Orcel Tells Handelsblatt
- VASTN NA : Vastned Extends EU200M Credit Lines to Sept. 2025
- VOW GY : Ford Drops as Inflation Warning Adds to Gloomy Commentary
- VOW GY : Volkswagen Works Council Weighs More Porsche Share Sales: FT