U.S. futures fell and Asian stocks were mixed Tuesday amid a jump in Treasury yields and the dollar as Jerome Powell’s renomination to head the Federal Reserve fueled bets on a quicker reduction of monetary stimulus.
Nasdaq 100 contracts underperformed after a Wall Street technology selloff hurt U.S. shares. European contracts fell as the region’s Covid flareup saps sentiment. In Asia, a Hong Kong gauge of Chinese tech stocks dropped on speculation over stiffer regulations.
Powell said the Fed would use its tools to support the U.S. economy and labor market and prevent higher inflation from becoming entrenched. Treasuries slid, with markets pricing in a full quarter-point rate hike into the June Fed meeting and seeing a good chance of a second by September and a third by December.
The dollar was around the highest since September 2020, while the yen fell past 115 per dollar for the first time since 2017. Oil retreated ahead of an expected announcement by the U.S. on a coordinated release of reserves. Bullion pared a slump.
Macro :
- Biden Says Powell Nomination Will Keep Fed Stable, Independent
Macro :
- Biden Says Powell Nomination Will Keep Fed Stable, Independent
- BofA Is Bearish on Markets and Sees ‘Rates Shock’ Coming in 2022
- Goldman Says Buying The Dip Might Get Riskier Later in The Year
Keep an eye on :
Keep an eye on :
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- AAPL US : Italy Competition Regulator Fines Apple, Amazon $230 Million
- ASRNL NA : ASR to Give Sustainable Farmers 5% to 10% Discount on Rent
- BOY LN : Bodycote Sees FY Group Rev up to GBP10M Lower Than Previous View
- BRBY LN : Burberry Won’t Renew Lease at Hong Kong Store, HKET Says
- BYG LN : Big Yellow Group 1H Revenue GBP81.8M Vs. GBP65.8M Y/y
- CFEB BB : CFE Raises FY Profit View, Sees Return to Pre-Covid Level
- CLN SW : Clariant CEO Sees Price Pressure on Raw-Materials Easing
- CPG LN : Compass FY Adjusted Pretax Profit Beats Estimates
- COREA SS : Corem, ALM Equity Plan to Create, List Rental Housing Company
- DAI GY : Inflation Shock Boosts Allure of Dividends From Daimler, BMW
- DHER GY : Delivery Hero Holders Offer 407,000 Shares via UniCredit Bank
- EOAN GY : Germany’s E.On Prepares $30 Billion Spending Plan to 2026
- INTER NA : Intertrust Says Received Multiple Proposals Up to EU22 Per Share
- NESTE FH : Neste Starts Construction in Green Hydrogen Project at Rotterdam
- O5G GY : CPI Property Says Apollo, Founder Subscribe for New Shares
- O5G GY : CPI Property Says Apollo, Founder Subscribe for New Shares
- ORA FP : Orange Belgium in Talks for Voo at EU1.8b Value: M&A Snapshot
- PIC BB : Picanol Boosts FY Adjusted Ebitda Forecast
- PETS LN : Pets At Home 1H Adjusted Pretax Profit GBP70.2M Vs. GBP39.6M Y/y
- PRSM LN : Bali Bidco Received Letter of Intent for 17.5M Blue Prism Shares
- RIV LN : River and Mercantile Gets Approaches from Premier Miton, AssetCo
- SVT LN : Severn Trent 1H Interim Dividend Per Share 40.86p Vs. 40.63p Y/y
- SOBI SS : Agnafit Bidco Extends Sobi Bid Acceptance Period A Final Time
- SYAB GY : Synlab Holders Offer About 10m Shares: Terms
- TNET BB : Telenet Not Withheld for Final Talks for Acquisition of Voo
- TESB BB : Tessenderlo Raises Outlook, Sees 2021 Adj. EBITDA ~10% higher
- TKA GY : Thyssenkrupp Holder Cevian Capital Offers ~43m Shares: Terms
- TIT IM : Italy May Boost State Lender Role at Telecom Italia Amid KKR Bid
- TIT IM : Vivendi Says KKR’s Bid for Telecom Italia Is Too Low
- TTE FP : Total Says Libya Has Approved Acquisition of Hess’s Waha Stake
- TRI FP : Trigano FY Current Operating Income Beats Estimates
- VLA FP : Valneva Shares Drop as Much as 18% in Paris
- VCP LN : Victoria 1H Adjusted Pretax Profit GBP41.1M Vs. GBP13.7M Y/y
- VIMIAN SS : Vimian Enters Partnership With Angany to Develop Vaccines
- VIV FP : Vivendi Says KKR’s Bid for Telecom Italia Is Too Low
- XIOR BB : Xior to Spend ~EU55m on Student Residence Project in Amsterdam