Asian equities and currencies sank as a spike in U.S. Treasury yields to levels unseen since 2011 tests investors’ nerves.
The climb in what’s effectively the world’s benchmark risk-free rate is challenging appetites for other assets. The S&P 500 Index pared its gains Wednesday afternoon, and futures fell Thursday as bond yields extended gains. Stocks slid from Seoul to Hong Kong, though Japanese shares outperformed thanks to the yen’s earlier drop to its weakest against the dollar since November. The South Korean won and Thai baht led Asian currency declines; India’s rupee is set to test another record low. While China’s markets are shut, the yuan slid past 6.9 per dollar in offshore trading.
US After Hours RECN +19%, HPQ +2.3% are higher, while RTEC -12% and SNX -7% are lower following earnings/guidance; HDP +24% / CLDR +22% on merger news
Nikkei -0.64% Hang Seng -1.82% CSI +1.04% Shanghai +1.06% Shenzen +0.83%
Eur$1.1472 CNH 6.9114 CNY 6.8688 JPY 114.35 GBP 1.2931 CHF 0.9922 TRY 6.0782 RUB 66.1035 WTI$ 76.24 -0.24%
S&P -0.53% EuroStoxx +0.68% FTSE -0.30% Dax -0.37% SMI -0.38%
Macro :
- JPMorgan Downgrades China Stocks to Neutral on Trade; ETF Drops
- Fed’s Harker Says U.S. Labor Market Has Little Slack Left
Keep an eye on :
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- AST IM : Astaldi Says Company Not In Default, Projects Still in Progress
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- BIOPOR DC : BioPorto Sees FDA Decision on NGAL Test Postponed to Mid-2019
- BMPS IM : Paschi Said in Advanced Talks With Warburg to Sell Belgian Unit
- BMW GY : VDL Nedcar to Cut 1,000 Jobs as BMW Trims Production: Limburger
- CABK SM : CaixaBank Seeks to Sell Torre Sevilla: El Confidencial
- DANSKE DC : Danske Bank Has Put Forward Jacob Aarup-Andersen as CEO: Finans
- ELTA LN : Electra to Sell Photobox, Knight Square; Reports Special Div
- EKT SM : Euskaltel denies Citi mandate to analyse possible M&A deals
- EVT GY : Evotec, Sanofi in Drug Discovery Partnership
- FXI US : JPMorgan Downgrades China Stocks to Neutral on Trade; ETF Drops
- GLEN LN : Zambia Chamber of Mines Says Taxes Make Zambia "Uninvestable"
- GOCO N : Toscafund Cuts Gocompare.com Voting Rights to 12.31% From 22%
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- KORI FP : Korian Momentum Sustainable, Raise to Outperform: Credit Suisse
- MAERSKB DC : Maersk Volumes Not ‘Materially Impacted’ by Trade War: Borsen
- NDX1 GY : Nordex Builds First Larger Wind Farm With New N149 Turbines
- NDA SS : Nordea Says It Has Upgraded Systems to Fight Laundering Risks
- NDA SS : Browder Says Laundering Scandal Involves Other Nordic Banks: DI
- OMV AV : OMV Gazprom Accord Potential Purchase 24.98% Interest Achimov
- CFR SW : Richemont Valuation Attractive, Momentum Likely Improving: MS
- ROG SW : Roche Wins Challenges to Two Cancer Patents, Loses a Third
- ROG SW : Positive Phase III Results for Baloxavir Marboxil: Roche
- SAND SS : Sandvik Mining Head Sees Potential for More Improvements: DI
- SAN FP : Evotec, Sanofi in Drug Discovery Partnership
- SCR FP : Exor Says PartnerRe Has No Interest in Scor
- SRCG SW : Swisscom Preferred to Sunrise as Morgan Stanley Switches Ratings
- SCMN SW : Swisscom Preferred to Sunrise as Morgan Stanley Switches Ratings
- SNH GY : Steinhoff Bondholders to Inject ~$300m Into Mattress Firm: WSJ
- TLRY US : Pot Producer Tilray Seeks to Raise $400 Million From Debt Sale --> -5,3% in after hours
- WDI GY : Wirecard Sees Potential Market Cap at More Than EU100 Bln: HB
- YOU LN : YouGov Made Content to Possibly Influence Iraq Vote: Telegraph