Stocks climbed in Asia on Tuesday, US equity futures pointed higher and Treasuries retreated amid steadier investor sentiment compared with last week’s rout in global shares. MSCI Inc.’s Asia-Pacific index snapped an eight-day slide to add more than 1%, with Japanese equities leading gains. China was more subdued as traders assessed the possible impact of Covid outbreaks. The drop in Treasuries took the benchmark 10-year yield to about 3.28%. Further volatility in bonds, under a Federal Reserve intent on sharp interest-rate hikes to tame inflation, could shake global markets anew. Australian yields reversed increases -- central bank Governor Philip Lowe reiterated additional interest-rate hikes are likely but pushed back on expectations of a 75 basis points move in July. The dollar dipped and the yen hovered near a 24-year low, sapped by the contrast between a super-dovish Bank of Japan and a hawkish Fed. But investors continue to face a parlous longer-term outlook. St. Louis Fed President James Bullard warned that US inflation expectations could “become unmoored without credible Fed action,” while former Treasury Secretary Lawrence Summers argued that the nation’s jobless rate would need to rise above 5% for a sustained period in order to curb price pressures. crude oil gained and gold slipped. Bitcoin scaled $21,000 as cryptocurrencies got a reprieve from recent turbulence.
Nikkei +1.84% Hang Seng +1.02% CSI -0.93% Shanghai -1.02% Shenzen -1.43%
Eur$ 1.0522 CNH 6.6949 CNY 6.6953 JPY 135.09 GBP 1.2266 CHF 0.9669 RUB 56.1450 TRY 17.3175 WTI$ 111.52 Gold 1835.30 BTC 21,030 +2.96% ETH +3.05%
S&P +1.31% NAsdaq +1.34% EuroStoxx +0.43% FTSE +0.26% Dax +0.43% SMI +0.48%
Macro :
- Corporate Distress in Europe Hits Highest Since August 2020
- Goldman Warns US Recession Risk Now Higher and More Front-Loaded
- Switzerland May Watch Exports Rose 13.6% Y/Y
- Macro Hedge Funds Are Enjoying a Slew of Catalysts in June
Keep an eye on :
- AED BB : Aedifica Buys Care Home in Scotland for £8.5M at About 6% Yield
- AIR FP : EasyJet to Buy 56 Airbus A320neo Family Aircraft
- AZN LN : Astra, Ionis to File Eplontersen in US in 2022 on Interim Data
- ATEA NO : Atea Buys IT Consulting Operations in Southern, Western Sweden
- INTRUM SS : European Firms Fear Wage Demands Over Supply Costs, Intrum Says
- LDO IM : Leonardo DRS and RADA Agree to All-Stock Merger: M&A Snapshot
- LHA GY : Lufthansa CEO Wrote to Draghi to Speed Up ITA Sale: Corriere
- OCDO LN : Ocado Places 72.3m Shares at £7.95 Each to Raise £575m
- RI FP : Pernod to Sell Tormore Brand to Elixir Distillers; No Terms
- RNO FP : Renault, Minth Group to Produce Battery Casings for EVs
- SCHP SW : Schindler Commits to Full-Scope Net-Zero Emissions by 2040
- TEP LN : Telecom Plus FY Adjusted Pretax Profit GBP61.9M Vs. GBP56.1M Y/y
- WG/ LN : Wood Group Says Ken Gilmartin Will Succeed Robin Watson as CEO