Stocks in Asia fluctuated and Treasuries sold off across the curve as oil jumped, adding to worries about how aggressive central banks will need to be to rein in inflation without derailing growth. Technology stocks underpinned gains in Hong Kong, while China rose as data showed factory activity shrinking at a slower pace and a Shanghai Covid lockdown eased. Equities in Japan were little changed. US contracts edged up. Treasury yields jumped more than 10 basis points after German bunds and European bonds sold off. German inflation hit an all-time high, adding to pressure on central bank policy makers to tame rising prices. The dollar advanced. Crude oil rose to around $118 a barrel after the European Union agreed to pursue a partial ban on Russian oil in response to the invasion of Ukraine. Higher energy and food costs are keeping upward pressure on prices globally and squeezing consumers. Global stocks are on track to end the month with modest gains amid skepticism about whether the market is near a trough and as volatility stays elevated. Fears that central bank rate hikes will induce a recession, stubbornly high inflation and uncertainty around how China will boost its flailing economy are keeping investors watchful. Inflation prints in Europe came before a crucial European Central Bank meeting where officials are set to announce the conclusion of large-scale asset purchases and confirm plans to raise interest rates in July for the first time in more than a decade. President Joe Biden will hold a rare Oval office meeting on Tuesday with Fed Chair Jerome Powell amid the highest inflation in decades and ahead of US payroll numbers later this week. Bitcoin was back above $31,000 as investors and strategists said the digital currency is showing signs of bottoming out.
Nikkei -0.16% Hang Seng +0.86% CSI +1.36% Shanghai +0.92% Shenzen +1.28%
Eur$ 1.0747 CNH 6.6795 CNY 6.6666 JPY 128.08 GBP 1.2613 CHF 0.9596 RUB 63.5209 TRY 16.3854 WTI$ 118.15. +2.68% Gold 1,852.27 -0.16% BTC 31,772 +1.65% ETH 1,994.63 +2.12%
S&P +0.21% Nasdaq +0.55% EuroStoxx -0.28% FTSE -0.03% Dax -0.34% SMI -0.38%
Macro :
- Todd Boehly Completes Takeover of UK’s Chelsea FC
Macro :
- Todd Boehly Completes Takeover of UK’s Chelsea FC
- AllianceBernstein Likes China Stocks, Sees Policy Support Coming
Keep an eye on :
- ADJ GY : Adler Group Maintains FY Net Rental Income Forecast
Keep an eye on :
- ADJ GY : Adler Group Maintains FY Net Rental Income Forecast
- ADJ GY : Adler Cancels Development-Project Sale After Buyer Didn’t Pay
- ARGX BB : Argenx’s Efgartigimod Gets Early Access from UK Drug Regulator
- AML LN : Aston Martin Needs DBX, V12, Sportscar Revamps to Reach Targets
- BAVA DC : Bavarian Nordic Boosts FY Revenue Forecast
- BORR NO : Borr Drilling 1Q Net Loss $51.3M Vs. Loss $54.4M Y/y
- CAST SS : Swedish Property Companies Face End of Era as Deal Volumes Slump
- CLNX SM : Cellnex Explores Bid for Deutsche Telekom’s Towers Business
- CLNX SM : Cellnex Explores Bid for Deutsche Telekom’s Towers Business
- CSGN SW : Credit Suisse Weighs Options to Strengthen Capital, Reuters Says
- DSM NA : DSM and Firmenich to Merge in Cash and Stock Deal
- DTE GY : Cellnex Explores Bid for Deutsche Telekom’s Towers Business
- ENI IM : Italy’s Eni Backs Gas Price Cap, CEO Tells Corriere
- IBS PL : Ibersol Says Period for Restaurant Sale Talks Extended to June 3
- INGA NA : Pressure Mounting on ING, UniCredit to Find Russia Exit Strategy
- INTER NA : CSC Extends Offer for Intertrust by 10 Weeks on Antitrust Delay
- INTER NA : CSC Extends Offer for Intertrust by 10 Weeks on Antitrust Delay
- LOGN SW : Logitech Has More to Gain From Gaming Peripherals' Demand Boom
- NUX GY : Mutares to Buy Mann+Hummel Plastic Parts Ops; No Terms
- RLF SW : Relief: Trial of Covid Treatment Aviptadil Discontinued
- SAN FP : Regeneron, Sanofi Say FDA Accepts Dupixent for Priority Review
- STR AV : Strabag 1Q Output Volume EU3.07B
- TIT IM : Telecom Italia Said to Seek $21.5 Billion for Landline Network
- UBXN SW : U-Blox Raises Rev, Ebitda Guidance for FY on Strong Billings
- UCG IM : Pressure Mounting on ING, UniCredit to Find Russia Exit Strategy
- DG FP : Vinci Wins EU535m Contract for Femern Tunnel