Asian stocks rebounded following Monday’s selloff that saw cryptocurrencies lead declines in global risk assets. Japanese government bonds edged higher after a keenly watched auction of 10-year debt drew firm demand. MSCI Inc.’s gauge of regional equities climbed as much as 0.5% before paring some gains. Tech-heavy markets of South Korea and Taiwan outperformed. US stock futures were steady after the S&P 500 fell 0.5% and the Nasdaq 100 dropped 0.4% on Monday. Bitcoin advanced after fluctuating early in the session. It slumped more than 5% on Monday. Demand at this year’s final auction of 10-year Japanese bonds was stronger than the 12-month average. The sale had assumed greater importance for traders after increased speculation over an interest-rate hike sparked a yield surge. The yen weakened slightly against the dollar after rising the most in a week on Monday, when Bank of Japan Governor Kazuo Ueda sent the clearest hint yet that his board might raise rates soon. Japanese government bonds should be watched as yields “have been on a tear” this year on expectations of larger budget deficits and another rate hike by the BOJ, Kristina Hooper, chief market strategist at Man Group, wrote in a LinkedIn post earlier. “This is important because rising JGB yields can help push up the yields of other longer-dated sovereign bonds, adding to borrowing costs when some governments can least afford it.” Global markets were off to a shaky start in December on Monday as the renewed selloff in cryptocurrencies and hawkish comments from BOJ’s Ueda spurred risk aversion. Focus in the coming days will remain on central bank actions as Federal Reserve policymakers meet Dec. 9-10 and the BOJ decides on rates on Dec. 19. While the Fed is widely expected to cut rates, swaps now imply about an 80% probability of a BOJ hike at this month’s meeting, with the odds rising to more than 90% for the January gathering. That’s versus just 36% for December as recently as a week ago. The bid-to-cover ratio for the 10-year sale was 3.59 compared with 2.97 at the previous sale in November, and a 12-month average of 3.20. Japan will auction 30-year bonds on Thursday. Treasuries steadied on Tuesday after falling across the curve in the previous session, when the 10-year yield jumped seven basis points to around 4.1%. A gauge of the dollar was little changed. Australia’s 10-year yield climbed five basis points. Elsewhere, silver retreated from a record high, with a key technical indicator showing that a six-day rally through Monday had taken the white metal into overbought territory. Gold also declined while oil edged higher. In the US, data Monday showed factory activity shrank in November by the most in four months as orders weakened. Fed officials will get a dated reading on their preferred inflation gauge before next week’s rate decision. The report due Friday is expected to show that inflationary pressures are stable, but sticky. Yet the debate will likely largely center on the job market when policymakers meet for the rate decision. In addition to Friday’s inflation data, other relevant economic data this week include ADP private employment figures for November and a preliminary reading of consumer confidence in December. US After Hours MDB +20.2%, CRDO +17.8% sharply higher on earnings; JANX -41.1% under pressure after interim trial data; VSTS -5.1% lower on earnings.
Nikkei +0.00% Hang Seng +0.01% CSI -0.61% Shanghai -0.51% Shenzen -0.80%
Eur$ 1.1621 CNH 7.0719 CNY 7.0743 JPY 155.79 GBP 1.3210 CHF 0.8049 RUB 77.5036 TRY 42.4725 WTI$ 59.40 +0.13% Gold 4,205 -0.64% BTC 86,900 +0.53% ETH 2,801 +0.33% SOL 127.10 +0.82%
S&P -0.11% Nasdaq -0.12% EuroStoxx +0.09% FTSE -0.16% Dax +0.09% SMI -0.02%
Macro :
- Jane Street, Citadel Securities Trading Revenue on Record Pace
- Crypto’s Retail Traders Hit Hard as Strategy ETFs Plunge 80%
- US Firms Are Snapping Up the Rare Earths Europe Needs to Rearm
Keep an eye on :
Keep an eye on :
- AIR FP : Airbus to Inspect Hundreds of A320 Jets for Defective Panels (1)
- AMBEA SS : Ambea Offering of 4.17m Shares by Holder Prices at SEK137/Share
- AAPL US : Apple’s SVP for Machine Learning John Giannandrea to Retire
- BAYN GY : Monsanto Agrees to Pay $120 Million in Illinois PCB Suit
- BAYN GY : Trump Official Urges Supreme Court to Take Bayer Roundup Appeal
- BAYN GY : Bayer Gains as Trump Urges Supreme Court to Take Roundup Appeal
- BP/ LN : BP Drops UK Hydrogen Plan Amid Site Clash With Data Center
- BWLPG NO : BW LPG 3Q EPS Misses Estimates
- ALCAR FP : Carmat Says Court Approves Purchase by Chairman-Controlled Firm
- Celestial AI (not CLS) : Marvell In Advanced Talks to Buy Celestial AI in Multibillion Deal - The Information
- CRDO US : Credo Technology 2Q Revenue Beats Estimates;; Shares Climb
- ENAV IM : Enav Signs Deal to Renew Radar Systems at Italy Air Force Bases
- EQNR NO : Norway Regulator Orders Equinor to Halt Activities at Mongstad
- EQT SS : EQT weighs higher charges on large investors thanks to retail cash
- HOLN SW : Holcim Acquires Three Recycling Sites in UK, Germany and France
- HOT GY : Sojitz to Get 50% Stake in UGL Transport in Venture With CIMIC
- INTC US : Intel Pledges $208 Million Malaysia Chip Investment, Anwar Says
- INTC US : Trump Administration to Take Equity Stake in Former Intel CEO's Chip Startup -- WSJ
- IREN US : AI Data Center Firm Iren Seeks $2 Billion in Convertibles
- JANX US : Janux Plunges on Trial Update Short on Detail, Janux Therapeutics Shares Fall 36% in Aftermarket Trading
- LULU US : Adanola’s affordable leggings are chasing Lululemon - FT
- MRVL US : Marvell In Advanced Talks to Buy Celestial AI in Multibillion Deal - The Information
- MDB US : MongoDB 4Q Revenue Forecast Beats Estimates
- BMPS IM : Monte Paschi Says ECB Sets CET1 Requirement at 9.01% After SREP
- NESN SW : Nestlé Explores Sale of Blue Bottle Coffee: Reuters
- RIO LN : Rio Tinto , Karlka Nyiyaparli Sign Updated Native Title Pact
- SAN SM : Banco Santander Plans to Sell 3.5% in Polish Unit Via ABB, Banco Santander Sells 3.5% Stake in Polish Unit at PLN482 Each
- SOPFP : Sopra Steria: Completion of Neocase Acquisition
- STLA US : Italy Nov. New Car Sales Fall 0.04% Y/y
- STLA US : Italy Nov. New Car Sales Fall 0.04% Y/y
- MSTR US : Crypto’s Retail Traders Hit Hard as Strategy ETFs Plunge 80%
- SQN SW : Swissquote Holder PostFinance Offers ~536,000 Shares: Terms
- TSLA US : Burry Shorts Tesla on Valuation and Musk Pay Plan, Fortune Says
- TTE FP : Uganda’s Tilenga Field Now Has Enough Wells for First Oil: UNOC
- 2202 HK : China Vanke Jolts Bondholders Again With Plan for One-Year Delay
- WBD US : Warner Bros. Gets Mostly Cash Netflix Offer in New Round of Bids